Energy Costs:  How is the building you're looking at heated?  

Reduce operating expenses, particularly heat and water (new windows and insulating the building better should help with energy costs, it seems the previous owners have invested $0 in this).

(Reinstatement is really not in your best interest for the most part anyway)Moral of the story, like I sort of mentioned before and above, get the total payoff (through the Seller/Borrower) and save yourself a bunch of wasted energy.  

I spend a lot of money and energy on climbing and I don't get any green pieces of paper back : )Also, from talking to people who do the vacation rental thing, it sounds like a part time job.  

It is true that you must have the stomach, time, and energy for D properties. 

Yes, I have a bullet proof lease drawn up by an attorney.

Are you going to be making big changes to the building envelope to increase comfort and energy efficiency or are you just doing the minimum to flip it. 

Currently I work as a contractor for a renewable energy company... and as fascinating as that is, a recent trip to the emergency room has caused me to re-evaluate quite a few things in my life (she said with a smile)...

I need to bite the bullet and hire someone, or things will start causing me money.

in 2015 i am biying a place that will need windows. link to some energy info:http://www.energytaxincentives.org/consumers/insul...http://www.biggerpockets.com/renewsblog/2014/12/23..what cost effective energy improvements to make?