Gutted Property Questions

[Bob McIntosh]

So I am going to look at a 3 family property this evening that is completely gutted, the owners started the rehabbing then ran into financial problems and want to sell it now.

The listing states the following:

Perfect opportunity for developers or first-time investors! 3-story building on 18.75x100 lot. Engineering & architectural plans complete, historic approvals & bldg permits obtained. Building is gutted and ready to go! Project includes design of 3 gorgeous condos totaling 3200 SF as follows: Unit #1 - 1800 SF, 3BR, 2BA duplex w/2 living rooms, terrace, backyard & parking! Unit #2 - 900 SF, 2BR, 1.5 BA w/private balcony. Unit #3- 500 SF, 1BR, 1 BA w/400 SF private roof deck!

I have a couple of questions to ask the owner at our meeting this evening but I wanted to get this forum's input on what types of questions I should be asking.

This would be my first purchase so don't hold anything back!!

Thanks in advance!