My advice would be to be similar to what Johnathan said and find the nearest city that you feel has a cap rate that you're comfortable determining and then from there discount or add a premium to the cap rate of your city and then your neighborhood.

Look, in life, there is always a price to pay (and there is never a discount).

They did everything and can provide multi-year registered agent (RA) at a good discount.

If they are in a bind and have to sell at a discount to get out, time is of the essence.

If the seller goes for the all cash option and you are able to buy it at such a discount and you are concerned about capital outlay, perhaps a 100% fix and flip loan is the way to go? 

Points (discount points, loan origination fees).b.

If you're buying this thing at a significantly above market cap rate (or a discounted price, however you'd like to look at it), then I would absorb those costs. 35k isn't a ton to invest in what seems to be a pretty large multiunit property.The 2 years on the MLS detail is actually the biggest red flag here.

The key to a rundown and vacant building is to discount the repair and/or cost of the structure so it may be just land value.

The goal is to buy at a deep discount and sell again at a higher price that still makes to an investor.  

If you try to sell it as-is, you will likely be selling at a substantial discount if it's in mid-remodel.