Real estate sales operates on an antiquated model that can be quite exploitative to new agents.

You need to hire a second property manager.Always check on them without letting them know you are checking on them.Follow this step use primer paint flat with color and always use the same color for all your properties.I use oyster, Swiss coffee, antique white, and last but not least white.This helps you keep all in order and you will not need to buy special paints.

The one the old man lived in was built in 1880, has about 1900 sq/ft, original hard wood floors, some antique furniture, approx. 7000 sq/ft lot, but the home is in horrible disrepair.

.  --   3780 sq ft 2 story office building (office was previous use)--  Built appx 1900 -- think it's brick, or block with some sort of facade, possibly limestone as that is common in the area -- has a basement as well with partial crawl space -- good soil in the area--  Appears to be structurally sound - no issues - however needs further investigation, the floor joists are likely large old world pine/oak or other hardwoods shipped in so they should be good as long as no previous termite damage/dry rot--   Basement professionally waterproofed 15 years ago - should be no water issues, we've had lots of rain locally (more than we've had in likely 10-15 years) and basement supposedly has not leaked, think it's limestone/concrete -- Building also surrounded by Concrete -- water should not be an issue-- Per agent this week there will be a new roof put on (Flat Roof) at a cost of $17k-- Asking price $60k-- Has been occupied by an accounting firm for I believe 40-50 years - they owned the building and have left as they merged with another local accounting firm and moved to another building-- Dated inside -- lots of paneling, probably dim lighting, HVAC is kind of dated****************************Potential Downsides/Other Pertinent info-- Likely will have low or nearly non existent price appreciation, other than upgrades I'd put in -- I probably wouldnt factor it in any of my figures-- Lots of ranching/agricultural, oil/gas, wind energy activity around - city has the closest major grocery store/Wal Mart to lots of people located in more rural areas within a 1-2hour driving distance -- town is important for that aspect-- Located in a small community - town has appx 12-15k people, however it is a bedroom community located off of a VERY well maintained interstate and it's only 20-30 mins drive from the City I live in that has 500k people --   The city is a good "Clean" town if that makes sense, very nice community gym close by-- Building is on the downtown core - right off of one main arterial and 1 block from the other -- no plans in the future to alter traffic flow etc --- Lots of money has been put in by the city/local govt to maintain the downtown area and make it a very nice walkable area - with lots of little shops, antique places, a couple cafes etc -- A local company in the refining business recently moved the majority of their business there from Wichita and has put a lot of money into this community -- large donations to the college and elsewhere (they make additives and are a nationally known brand -- have been around since the 70's - only way they go down is if we go away from the internal combustion engine - dont see that happening in the time I'd own the building) 

I need to gracefully restore the window exterior protective framing art (for a lack of better term) in the picture.They are quite old (120 years), so at this point, I can try to:- Salvage whatever possible, with a mix...

Check the public records, what liens are on the property, what violations, back taxes, water bills etc.If buying directly form the seller (using an agent), make sure you have a lien and title report to protect you from buying a property with unwanted liens or judgement s that will have to be paid before getting good title.Other ideas for you that may help you understand the auction business better:Contact auction companies (always talk to the principle of the company).Do some research of that company; what do they primarily sell, stuff (assignments), antiques, coins, real estate, foreclosures etc.attend their auction, get to know themAt my company we have auctioneer associates, their job is to run leads and to create leads that we can sell at auctions.

All of the apartments are Furnished with Antique furniture.  

It rained and the roof leaked and destroyed my grandmother's antique sideboard that I inherited.

It seems antiquated! 

I have been selling fine art and antiques while in college and have been fortunate enough to save $50,000 from doing so.