I totally understand that.From the perspective of liability and risk, which would you say has less risk?

This has less to do with any of the other residential/commercial designations above and more to do with the perspective of a residential rate being for SFR and small MF and anything denser is 'commercial'.In your scenario it's not clear...but is the utilities department holding up your building plans, or some sort of right of way or public utility connection plan? 

You will get many different perspectives to help you make decisions along the way.  

Chris L.When approaching overwhelmed/tired/retiring landlords, especially those whose property has been sitting on the market for ages, we will often present our cash-offer and a vendor carry offer, along with a narrative which explains the pros and cons of each offer from both the vendors and buyers perspective.

From the sellers perspective, someone offering a 4% rate note should expect to offer a greater discount than a seller offering a 10% rate note of similar quality. 

I wholesale in 3 states so I get to see the perspective from a couple different markets.

@Jenni Moore, I'm speaking from a theoretical perspective, as I have not done this type of renovation, but here's what I understand.

From my own perspective the prospect of Brexit is an empty threat to a happy future as a second homeowner in Spain to both existing and future property owners.

Great thread and a lot of very useful information and perspectives here.

Maybe (e.g. huge potential just bad management)orMaybe not (e.g. there is mold issues in the vacant units)You need to look at every deal from the perspective of:1) what's it worth today?