I can pay a friend of mine handy man who has worked in ceilings and sheet rock who I know to help me restore the ceilings and the walls and I'll pay the materials.

The key to doing this is making sure that you have ROCK SOLID reviews and offer more than the basics, but I am sure you are aware of that already if your having successes with airbnb. 

Here's our catch 22: We can't sell all the buildings for rock bottom because we would make MUCH less income.

I have no experience in purchasing or maintaining old buildings like this nor can i say if it will be standing strong for another 30 years (im here everyday and all seems well, but im scared of what could go wrong with this old of a building)I believe the business will continue to rock on solid.

I own in Memphis and Little Rock.  

Yes, Indy rocks!

It hangs too low for us to hang sheet rock on the ceiling.  

I am also new (compared to Ricky B), and the start of a new BRRRR project in Rochester.

It is a little riskier because it is pricey but if you look in the suburbs (Round Rock, Pflugerville, Kyle, etc) you can get some AMAZING deals and capitalize on the beyond ridiculous appreciation Austin is experiencing right now.Dallas - Third best metro to invest in Texas.

I was curious as to what else would be involved with the rehab other than the obvious (replacing all sheet rock).