I have an oppurtunity to buy an old church from my friend/coworker.
He used to pastor it and it was previously used as a mission.
It is approx 10k sqft or so but has become rundown.
Outer brick structure is fine,but needs new roof and some other stuff.

He simply wants out of the property,as it is no use to him anymore (he has new church and new shelter/mission building).

I can purchase the property for cash,he previously told me he would sell to me for 26k.
I asked permission to take a better look at property yesterday though (with brother in law who is in construction) and he said he would make me a significantly better deal.

I would like to convert the property to a 4-6 unit apartment,but I will not leverage or borrow more than my personal paid off house is worth (~150k).
I have no idea what it could cost to refurb this thing.

Anybody have an idea or possible cost's?
It is in small town ~10-15k people and tucked into quiet neighborhood of 30k-60k homes a block off main highway through town.
My brother in law builds additions for churches and his initial estimates are $150k+ probrably. But he is simply a laborer and not a contractor and is using the $1m+ budgets for the churches as his basis.

The wife and I plan to buy our first rental after the first of the year when we have enough retained cash to buy a unit ($10k).
This doesn't seem like a good starter project for us,being inexperienced in the business.

Any direction?
I can provide pictures of the property if it will help.
I'm not opposed to buying and reselling to an investor for a small profit if that is possible also.