If you could do selective demo on the church, leave exterior walls as an option (if it were previously a house), it would make more sense, try to salvage the roof system also.

The shorter time frame comment was in reference to being able to loan my money out again after a number of months in hard money lending as opposed to years in private lending.

For example, in Las Vegas townhouses and condo exterior maintenance is part of the HOA fee. 

@Stephanie LellaEven if you stick with a storage tank for domestic hot water (as opposed to on-demand), there are models which are direct vent (pull their combustion air from outside the building envelope and exhaust directly to the exterior).  

So no funds allocated to the exterior other than paint?  

Once we got the exterior completely cleaned up, we immediately put a for rent sign in the window, and had tons of interest.  

Typically, the HOA is responsible for all repairs from the inside surface of the exterior walls outward and with party/common walls they would be responsible for repairs inside the two layers of sheetrock separating the units.

Two separate duplexes, each built on separate parcels initially, county just combined to one. 1/2 acre parcel, new roofs, exterior paint, garage doors, windows, base rocked driveways, surveyed.

And yes, borrowers do transfer title to an LLC all the time, in violation of their loan terms, but opposed tom ours attorn's opinion, I have Never had a lender say "no problem".

Would it be a good idea to pay $300 for a home inspection prior to submitting the offer as opposed to submitting the offer only to later find something seriously wrong and risk losing the $700 EMD.