Also, you may want to think about safety level.

Warren Buffett had this to say about it:"The stock market is a device for transferring money from the impatient to the patient."

Zoom meetings aren’t the best way to network to me, so I’m patiently waiting for these lockdowns to disappear.

I just want to make sure about safety and repair if needed. 

Any perspective on the area is greatly appreciated in terms of flooding potential, safety and security, quality of life.

@Renee Ren I am in the exact same situation but I will continue to be patient.

The historic district doesn't really care what you do on the interior of the home or if you live in it or rent it, while the city does require a rental license and inspection it is primarily for safety issues and to ensure everything is working and safe.   

You can view the code at: https://up.codes/viewer/massac...Exceptions to the code are made regularly, but ceiling height is very important from both a safety perspective as well as livability, legal, resale, rentability perspective.

This is one of my fears, that a new construction building someone else is taking the upside potential, so that would leave me with a thin margin, which would be okay if things are stable, but also considering whether to look for more safety in case the market turns south.  

But it does have a nice yard, and Belgrade is on the up in terms of value, much like Bozeman.So it's not totally hopeless, and if you are patient, things may pop up.