Most of my available funds are tied up in this project.The house is in a pretty bad part of town, but has gotten a lot of press that it is turning the corner....warehouses converted into artists' studios, a brewery, and pubs and more upscale restaurants are now there.  

The city has announced a massive redevelopment project (replacing abandoned warehouse buildings with a strip of retail and restaurant spaces) about half a mile away.Obviously this will take some time to build, which is why holding for 2-3 years seems like the best decision.

One of my wife's uncles was in charge of one of the properties which is zoned for commercial/residential, it is a 1708 Sqf office space/small warehouse on .36 acre lot.Which with some research it can be split into 2 lots.He let the property go to the dump, needs a new metal roof, and gutted, replace plumbing/bathroom, replace electrical etc...Now my wife’s Aunt is in charge of the estate and she was the one who approached me.She said they will "sell" me the property for $30K (estimates from Real estate agent say property is worth $43-$53K in current condition) Which then I could clean the property up and try to resell with the improvements.Now if I did replace the roof make the inside look nice and clean the overgrown landscaping I was told (real estate agent) it could get about $60K, but there are back taxes and liens on the property as well.Plus closing cost for when I sell it, I have run the numbers and it seems that I would MAYBE make $3000-$9000 conservatively.But I am real concerned over the fact that it is used as an office/commercial, and wouldn't this limit buyers?

Commercial Realtor needed to lease 2 year warehouse in San Pablo, CaApprox. 3300 sq Francisco $2700/month

Also check for old warehouses you could convert to an office building.

I've been involved with converting a warehouse before which is a similar process, save there was no need to remove animal odour from the building before starting.

This past weekend I installed additional wifi and instrumented my pool to monitor and log the temperature over the internet.I've got two questions for everyone1.

I hoped this helped a bit, I will ask my co-workers at the Funding Warehouse tomorrow for a better and clearer answer, they should have more knowledge on this matter.

I am a new intern for the Funding Warehouse, which does 100% lending on costs or 70% off ARV, whichever is cheaper. 

Sometimes up to a week if there is high humidity, low temperature, or poor air flow.And as mentioned earlier, the end product may not align with expectations in a higher-end property, but will be great for at least a B property.