I rate this property as a C/C-.The home is very old (Pre-1900) and the photos suggest a property that may be sound mechanically but certainly not finished well or pleasant inside.

The investment property is in Mount Pleasant, SC (Charleston area). 

Assuming it's finished in time, and you are able to show it and sign the lease before you leave, you have to have everything in place for their arrival.

If you're only considering fixing the space and renting it to some other business which doesn't have any synergies, then this should be evaluated as a pure investment of capital, and you should weigh that investment vs. an investment in your business, which would yield higher returns.Also interesting is that you have very intimate knowledge about the distressed state of the seller, which most people will not have, and also pretty good knowledge about the building, as you've been there awhile.

Many of its depressed areas are making some pleasant changes, and it's still relatively commute-able to Seattle, so it should also be very in-demand with renters.Good luck!

Many times a low appraisal is somewhat due to the appraiser's lack of knowledge of the area, but if it takes a very intimate knowledge of your immediate market to justify your price, you're probably going to run into the same problem with the next appraisal.

San Diego has some very distinct neighborhood boundaries that aren't apparent if you aren't intimately familiar with the area.  

Trying buy at auction expecting to get financing is not a practical idea. you need to know that you have reliable funds lined up in time to settle.

They did not correct in time so I got the bill.

You can also translate mortgages into a bulk commercial loan at some point in time.