Amazing work!
I would be afraid to do such a project for these reasons
1) if its affordable, chances are its because its a bad neighborhood
2) with today's building codes, and lawyers, there is a good chance that there is some professional costs involved to remove harmful old hazardous materials. Some costs can be high pending on state/province you live in. Sad but true. There is a few amazing old buildings for sale because the owners cannot afford to fix them.
example of old buildings, and some amazing photographers
http://www.opacity.us/
1) I got a screamin deal, but I think that is because the city was tired of me harassing them. They also were only paying for utilities and routine maintenance (after owning it for a while now, there was not maintenance peformed). The neighborhood is not too bad, but it is like every other one in cincinnati, if you are not in a crappy area, you are surrounded by crappy areas.
2) I would say this is the case for most. I am in an industry where I deal with this kind of stuff on a daily basis. Meeting building codes has not been too difficult, although the permit process and plan approval was a bit of a pita. Mainly disputing what should be "grandfathered" in and how the facility was used prior to my ownership. Even though men lived here and the building was zoned SF6 (single family residential), I still had to do a "change of use." I think it was just a way for the city to get more money out of me.
As far as hazardous materials goes, most people fear because they dont know what they are dealing with. Lots of old materials have asbestos in it, some of which must be dealt with with grate care and personal protection. Other materials are harmless unless you put them in a blender, and if broken or cut would put out an acceptable or non hazardous amount
(tiny ppm) of particles into the air. Either way, if dealing with something that may or may not contain asbestos, I recommend wearing a mask, and not the paper ones. You can also get test kits from HD. Most people believe that all asbestos has to be removed, which it doesnt. Abatement does not necessarily mean removal, most asbestos items can be concealed.
I have some asbestos insulation (canvas jacket over what I call rabbit fur) on the radiant heat piping in the basement which I will leave to the professionals to abate next spring. This is expensive for most. Some of us have connections.
