Given the current costs, we would never buy one for a rental; I inherited one with one rental I manage.The EPA mandated changes April of this year which increased the size of all tank type water heaters.

The fact that your project already has the size and just needs rehab is excellent.

I can pick three similarly sized houses in my city in a 1-mile radius and the prices can vary from $2250 to $500 to $900. 

Takes 3 trips regardless of size of room.

Also, insurers could generally give you a reasonable quote based on size, age, location of property.  

I don't have any direct experience yet with developing, but I've done a little research.I'd suggest that for a project of this size you would want to start with a feasibility study.

In some locations, the purchase at such a tax sale serves to extinguish subordinate liens, but in other locations that is not the case.

Then we process them on a first come-first served basis.

It will be a free event which will also be serving drinks and finger foods. 

The size isn't too big either.