I'm an engineer (residential structural) and happy to share my thoughts on anything that looks concerning to you on the distressed home.Cheers!

Quote from @Samuel Diouf: I think you need to look at different markets and really think about your goals and reverse engineer from there.

Just wondering if anyone who have dealt the similar situation and have any recommendations on local engineer firms and contractors who have experience in this kinda project.Thanks ahead!!!

The real estate sector is undergoing a significant transformation driven by the twin engines of technology and sustainability.

This will be for my primary home so will really lean on an architect/engineer. 

Buy or inherit and hold all their lives while working the properties for income.I've seen teachers, firemen, software engineers and all sorts of people utilize both strategies successfully.

There will be some giant surprises to many there when you have to start paying engineers for frequent evaluations and making the structural repairs required.   

I'm located in San Antonio, Texas and do civil engineering for developers on projects all across Texas.

The other (better) developers know they can sell by themselves and don't want or need to pay outrageous commissions to get their deals marketed.So basically, you're getting a discount on a purposefully engineered overpriced retail price.

Buy or inherit and hold all their lives while working the properties for income.I've seen teachers, firemen, software engineers and all sorts of people utilize both strategies successfully.