Without my wife's direct involvement, I think some of our homes would have struggled to stay afloat.   

Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor.

Quote from @Garry Lawrence: I need advice on a serious situation involving a property I’m about to buy.

Sometimes occupants still live there and eviction is not easy, and I have even heard a story once that the yakuza are involved in the construction and real estate business and exorted money from buyers through occupants in these properties. 

it was an interesting process but basically, the novation allowed us to get the deal done without having to involve the banks. this was a huge motivation. that way I save on having to close twice. 

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

Investing in single-family residence fix-and-flip projects in New York involves purchasing distressed or undervalued single-family homes, renovating them, and selling them at a profit.

This does not involve the utility company meaning that you will still have to go into the property, read the meters, then individually bill each tenant for their usage and understand the bill is still in your name.

It’s likely the GC will subcontract the concrete work to a specialist while they focus on managing the permitting process and ensuring everything is done to code—especially if there are ADA requirements involved for the ramp.Let me know if you need help navigating the process or any tips for working with contractors.

I am also involved in management at one of the largest STR property management firms in Cashiers.