Rehabbing buildings on the National Register of Historic Places

[Eric M.]

I'm looking at purchasing a 16 unit apartment which is on the national registry of historic buildings. It needs a substantial amount of rehab and I'm curious if people have had success using the 20% credit from the Federal Historic Preservation Tax Incentive program.

Was it difficult to apply for or is it painless? Any idea how the new tax laws affect it? Any other input?

[Brian Ploszay]

I found that historical buildings can pose certain problems during the renovation process.  I stay away from them - as well as architecturally ornate properties. They are harder to repair.