He cleared the property and had an engineer draw up plans, but then decided he was too old to start a new project.

Hey @Bert Durant, did you ever get any useful recommendations for resources for your investment project?

Here's another Flip, we teamed up with Liz Kazeva and PGH Property Buyer with this one on the North Side of Pittsburgh. Purchase was $23,500, Rehab was $41,000, and it's currently under contract @ $105,000. Multiple o...

Here is a list of items that a hard money lender would like to see:Project Financial Analysis - Breakdown of your financial analysis for the project showing your ARV, Repair Costs, Buying Costs, Holding Costs, Selling Costs, Financing Costs & Projected ProfitRepair Estimate - Summary of Repairs broken down by CategoryProject Scope of Work - Detailed breakdown of all Estimated RepairsComparable Sales Data - Comparable sales analysis of at least 3 similar, recently sold compsProperty Photos - Photos of the existing property conditionYour Resume - Your resume of past experiences, & action plan for the projectI have uploaded a sample Investment Presentation in my fileplace as an example:https://www.biggerpockets.com/files/user/drobertson/file/sample-rehab-investment-presentation-for-lender

I have very little skill myself in doing fix up projects. 

It is a large scale duplex project by developer with around 40 duplexes in community.  

You also need to project out if this will also affect long-term decisions to maximize the zoning if you think the highest and best use is to develop.

With that being said, it doesn't have to be the home of my dreams once the contractor signs off, I'm pretty handy and really enjoy projects. 

My idea involves knocking down some walls to convert 10 motels into 5 apartments.What should we watch for if we decide to invest in such a big project?

If projected cash flow was considerably higher I might think about it, but in the end it would still be no.