If they have gusset plates then I would bet they should be replaced if they have signs of high heat damage. 

@Joe Miller _ I mean get a checking account (operating) + savings (for tenant's deposits).

I'd use at least 8-12 months to budget for your schedule before you can even break ground.In terms of financing, I don't see how you can make it work with hard money, so your best bet is to find a partner, especially someone who has done this type of work since banks want to see a track record with experience. 

I imagine the vacancy rate is reasonable, but the very small town was a concern (and still is) and it wasn't going to be very efficient for my team to operate there so I did not pursue that deal from 2 years ago.

I bet that will be hard to find even with a major rehab. 1% rule is 10 Cap + or thereabouts.

@Costin IorgulescuThe IRA LLC may be you best bet to control custodian fees.

Maybe find a bank that operates in both countries if possible or even try an online bank such as Ally, Capital One, or Discover.

Specifically I would love to connect with a house flipper, builder, or an investor to hear about your experience regarding how long you’ve been operating, assets, time it usually takes to flip and sell a home, prices, data tape, etc. 

I would bet the MLS has good deals you just need to spend more time searching and act quickly. 

I reached out to 3 builders, that operate in Nassau & Suffolk Counties, and your price of $125 PSF is spot on.