There are also requirements for additional capital to be invested.You could find an Opporrunity Zone Fund, or buy a property yourself that is located in an IRS designated Opporrunity Zone.

I get permits fast and have nice designs. 

During that time I will finalize whether I want to build and sell finished homes, or sell the lots with a design-build agreement included.

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On the other hand, a new land home package would have brand new septic and well, and I could design the new home with whatever specs I wanted-Energy Star, strong roof and wall construction, etc that would last a long time.  

“It was never designed to do that, and I've never promised anyone that it did,” said Burrows, a Lubbock Republican.

I used to live in the house and designed the kitchen so it's easy to become irrational when emotionally attached. 

I am a design / build guy. 

@Jian Guan I’m a Structural Engineer from Los Angeles and have designed and built many multi-families throughout Southern California.

Top to bottom inspection.If it is in good condition and the systems are intact and updated it could be interesting.Might even qualify for historical designation or the Mills Act and get a discount on taxes.Double check what you can get on financing especially the roof and foundation