I am a local Realtor here so I have that leg up but as far as the funding and financing options go I am totally green.

Everyone that has voiced this concern is local, and active, so you would think that they would have a leg up on others.

HE/She probably wouldn't have a legal leg to stand on, but it doesn't mean they won't try to shame you into giving them more money.   

It's apples and oranges to what's going in right now.  

To maximize the space and double storage I created a breakfast bar and pantry from an old hutch painted Lacquer White and frosted the glass to coordinate with the IKEA uppers, built custom shelves/legs stained to match the mahogany in Varithane (American Walnut) which sandwiched the IKEA solid birch butcher block shaved down to 16"  to counter lever the breakfast far-Opposite side had simple stainless HD bracket.

@Arthur Hicks The Newburgh meet up was hosted by the Orange County Real Estate Investors club.

I owned A few houses out in orange nj is a rough part of town so I have an idea of what could possibility come with the territory with investing in Newburg.

I’m located in Orange County NY.

While you are in the Purchase Contract Option period:you can work on getting the SRO/rooming house legal.start working with local non-profits in the city of Newburgh and Orange County who could help you with managing Transitional/Temporary homesnetwork with local government on any community development grants that they have to improve the area where the 3 building parcel is located.The benefit of going the Purchase Contract Option route is that:You get time to legalize the buildingLimit your credit risk if you can't get the property to be legal/permittedYou can improve a down trodden neighborhood in a big way which will further help with gentrification.Installing cameras outside of the building and working with local law enforcement can help with the drug dealers.You can also continue to look for good cash flowing deals that can be financed without having to the work similar to this one.

Got halfway through writing a response to discover this is not my Orange County :)