I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area? 

The home was a bank foreclosure from a reverse mortgage.

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Here are 10 tax tips every homeowner should know:1️⃣ Mortgage Interest Deduction: Deduct interest on loans up to $750K!

I own a couple rentals in the area that I am looking to refinance.

New construction has a very different risk profile from buying existing properties and fixing them up. 

And finally, while there are likely some pro accounts that will only give you discounts if you are licensed, most will let anyone sign up, and are often based on volume spent at that store anyways.

Without getting too deep into the weeds, there are a few ways to do this, including:- write up an assignable lease and an option to buy which the seller signs, then assign the lease and option agreements to a tenant-buyer.

A 14-50r plug was always the preferred method, especially before the world woke  up and switched to the Tesla charging standard.

I'm in several co-living groups, and the rent by the room model is getting more popular.