I've never had a client not be able to get a great competitive premium on a property here and we've bought all kinds of property. 

What kind of debt is it?

These kinds of developments can be huge draws for both residents and investors.

I kind of doubt it since Airbnb isn't that popular in these parts. 

As others mentioned, you're going to have a very hard time getting a loan when you're currently in default on any kind of mortgage, HML or otherwise.

If you need additional verification, you can kindly request a government-issued ID, but it’s best to communicate this upfront in your house rules.Happy to connect and share more insights! 

I'd much prefer to put $60K on a down payment and closing costs so I have $50K to fix it up.So a couple of questions: 1) Am I mistaken in thinking those kind of lower down payment products are out there for regular folks like us? 

These are the different properties that are included in the 1031 exchange requirement: commercial buildings such as offices, schools and different establishments that are important for the population, as well as single family rentals, multi family rentals, industrial facilities, and even raw lands are included in the like-kind.

Thanks for the kind words. 

I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area?