Blue Ridge looks attractive based off my search and pricing there. 

They'll make you rip open the walls to inspect and then reclose them up on your dime.I'd say follow the municipal and lender guidelines as closely as possible for rehabbing, you'll feel better knowing your bases are covered.

. ~50% haircut.So... since all goes to charity in 15 - 20 yrs anyway... why not donate now and play those cards?

If you don't understand the implications of this, you should likely not be a buyer.That said, James, as you know I play in the big pond.

I would think it'd be pretty simple to calculate his actual rent income based on the properties current conditions and explain that at best, the tenants in place stay for years to come, he continues doing the bare minimum, and his highest predicted income is x dollars, barring any emergency spending to keep the tenants happy.

@Patrick Philip Keep in mind banks will price there construction debt based on the Fed rate & expect to pay WSJ Prime +1/2 to 1 Point so 10% is not bad from an alternative lender at this time.

I am based in Tampa but I cover from Orlando to Spring Hill, and all the way down to Sarasota.

@Sherry PattersonHey Sherry,I am an investor agent based out of San Antonio. 

The variance will be granted based off the site plan submitted at the time and the variance application.

I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.