I'm new to this site and very new to the world of investing. 

The owner purchased the building in 1972 is 80+ years old and lives within a 20 minute drive, he lives in a moderate not wealthy neighborhood.

I didn't even see the inside except from the old mls photos.

It could be an extremely cool building once finished though, it was an old masonic lodge. 

And the state law already provides that in both Upset and Judicial Tax Sales, the Realty Transfer Tax is based on the assessed value, no matter how low the actual purchase price might be.In one case I personally witnessed, an old abandoned factory building was sold at Judicial Tax Sale. 

There is an old house that I have under contract.

The work essentially needed is:1. cut a non load bearing wall2. take out all cabinetry and old wood counter top3.

I am 22 years old and a manufacturing engineer for a growing company in Connecticut.

I'm 19 and looking to learn everything I can about Real Estate and Real Estate Investing. What advice and guidance can you guys provide me with?

I am now taking the daunting plunge off the cliff into the REI world, and I need to build a team of connections for a successful business.