I like new construction since there isn't any deferred maintenance and the properties should be relatively maintenance free for the first couple years (although it's good to include maintenance/repairs in your pro forma and maintain reserves just in case). 

And that’s with zero vacancy, zero repairs, zero capex.

Quote from @Dan Grove: Some combination of cash to seller, closing costs, repairs, construction, paying off arrears, assignment fees, commissions.   

I guess it's just too many factors to consider and it easy to get overwhelmed and cannot get accurate info and estimation when I conduct analysis (ex. property tax rate, insurance, maintenance fee, rent, repair, closing cost, etc.) 

Quote from @Alecia Loveless: @Natalia Perlova Absolutly no to the Sunday repair.

That aside, If it were me I'd get a professional estimate of what repairs would cost, and make the decision to keep or sell based on that. 

Zoning says that it is a repair service shop, excluding automobiles, any idea if leasing out storage space would be permitted?

Appreciation is great, but not when all of that appreciation is eaten by the repairs you aren't doing.

I thought I could solve the vagrant problem by buying and repairing the buildings.

Make sure when the new hardware is installed adjustments are made if needed and repair any damage to door jamb.