I'll work on that picture!

A standard picture window might be $200/250.Twice these numbers if you get a contractor, I'd guess.

Remember sometimes the macro picture does not apply to a more local economy.

I've seen pictures and no conversion necessary to make it a rink.

Not having money to investigate further will not win their case in court.Having said that if there was an item not generally seen from basic examination that the seller was trying to cover up and not disclose that was discovered later after purchase the buyer might have recourse against the seller.Basically do not cut corners on rehab and keep great pictures and records, permits, etc. as proof the work was completed correctly.

I sent this picture to a contractor but figured there are plenty of people on here who have experience with this as well, or have contracting experience.

Would like to know what you ended up doing to it and if you had any pictures?

Take pictures to document all damage.

House has been putting it in motion that banks can soon enter the picture.  

What are you basing that optimistic prediction on if you are unaware of historic rent growth or appreciation rate, one days picture of a "cash flow"?