Find someone that will loan you the money or partner with you on it that is non traditional like an investor that buys directly at foreclosure auctions in the area. 

I'm looking for that one strong reason for why I should move forward with it.

I think they offer tax prep services, but I'm sure they would have a recommendation/partner for that if they don't. 

I should add, the reports you can spit out from it will look great for any bank/partner/etc.

Unless you have a strong construction background, I highly recommend you do not undertake this work on your own.

The "partner" bank to this strategy is Relay and they make it very easy to open and name accounts.I would second what was said above. 

Don't rush it or partner with anyone who promises returns. 

Are partners involved?

How strong would the cash flow be if you rented it out?

We also host meetups about every 2-3 months in Norfolk that typically has 40-60 people show up every time, and would love to expand that number so everyone has the opportunity to network with their potential next business partner.