While it is very different the way it functions is similar.

Artificial Intelligence will replace a lot of low level functioning jobs in the future.

The building is an old church in very nice condition and the layout provides many options for it to function as something else.

@Dale Miller  FHA, VA and USDA appraisals are far more difficult than for a conventional loan.Appraisal for a conventional loan is looking for the value of the property and to ensure that all major systems are functional - water, sewer, electricity, heating and AC.FHA/VA/USDA does the same, but will also fail for anything that can loosely be interpreted as a health or safety issue. 

Jordan, your correct regarding note investing and buy and hold real estate ability to compliment each other,  it should be a function of the note investors business model such as some will avoid non-owner occupied because there is a very low change the borrower will work out a loan modification,  while others will seek those assets out because they intend to exit through the property,  rehab,  rent,  sell etc.  

Supposedly, my aunt and mom would function as the bank, and I pay them monthly until the house is properly mine. 

Commercial and residential loans function in different ways for different purposesResidential loans are used to purchase residential property (as you probably surmised).

Those should not be a function of the rents. 

Assume any nice finishes you do now will need to be redone prior to selling it in the future +/-.Avoid high end finishes and go for nice and functional IMO.

- Capex is a function of the property replacement value, it's age and current condition.