I have taken on projects like this. I have one I did & have kept for 15 years that is like an infomercial for real-estate investing. I have used the equity to do all kinds of things since that are worth far more than the property if sold. I am now in the process of demolishing it in favor of a big 3-bay garage with a 2 bedroom mother-in-law on top of it. I think if you keep them after they are made conventional, the best play is to use the equity for other projects like this.
Another big bargaining chip you will have is that "unconventional" properties like this typically will never qualify for any kind of mortgage or loan. That greatly limits the pool of prospective buyers. When I did mine, I got what amounted to a 'branch' or car loan to buy it.
Take your time & enjoy. Buyer's market on most of this stuff.
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"If you do everything you'll win"
-LBJ
13 Smiles per Gallon:
66 Bonneville wagon
66 Bonneville 2d HT - In perpetual progress
2005 GMC L-33
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