Commercial/ Residential Property PA
My family has 5.5 acre Farm in South Eastern PA. Multiple Paying tenets 1 trailer, 2 houses and 5 bay garage. Grandfather had manage the property (like it was 1920) up until my grandmother passed in 2009. My dad has taken over and hates real estate. Has had the property up for sale for 5 years. Has stop most preventative maintenance unless something bad happens. Houses need love.
Main house is a 5000sq 1760s historic home. The other is a 1000sq servant farm house. the majority of the acreage is approximately 3 acres of old horse field, FLat. No public sewage and no public water, Needs 2 new sewage systems. Main house needs updated plumbing an heating. (cast Iron Pipes are in sad shape)
I offer to buy the property 3 years ago but he didn't want me to have it because of the problems.
I have sense purchased a Family home and do not the ability to still out right buy it. I want to get into real estate investing so this feels like it should be easier with low capital.
So my questions are:
1) What would be other creative options to turn a profit on the property
2) How can you make a real estate deal look appealing to someone who hates rentals.