Contributors: William Harvey Osceola Mill is a historic inn with 4 guestrooms (soon to be 6) plus a detached cottage and restaurant at the base of the Blue Ridge Mountains.

It is a historic building so I assume I have to get extra approvals. 

The assumption is that we will be in a "real" recession at some point in 2023 and based on historic trends mortgage rates were always lower at the end of a recession than at the beginning, on average 1.8%.

I understand from other's more in the know, that this was a common outcome historically. 

Same thing with the East side of Henrico County.We are currently renovating a house in Chester which is performing in much the same way.My hopes are to, shortly, renovate a historic home in either the Fan or Museum districts on the West Side of the city but I may start in the Church Hill area as it is less expensive.Are you local or looking to remotely own?

In some markets you can buy turn key properties that will likely increase in value because the market the yare in has been historically low.

Which didn't make sense because this property isn't in a historic district.

5,000 SQFT 2 Story Historic Brick Building. 2 Apartment newly renovated. 1 Gift Shop, 1 Restaurant w/ Bar, 1 Office area, All Restaurant and Equipment included plus tables and POS system.

Without conventional financing, the property should beat significant discount. 2) at those rent points, the maintenance and cap ex will consume a huge percentage of the rents. 3) I think it is unlikely that a rookie can finish a gutted unit for $15k, excluding if they do the work themselves.  4) the price point makes clear this is zero appreciation market (I.e. appreciation does not historically exceed inflation).  

Contact the utility provider and get an historical average based on the last year of use.