Here’s a very interesting article out of Cleveland on how certain older homes can be rehabbed into loft-type homes by ripping out most of the walls and most of the second floor. It works with certain older homes that are constructed in a way that makes this treatment feasible.

This offers an excellent alternative to demolishing the home. We’re talking about older homes that are worth basically nothing and then can be rehabbed in this way for under $10,000. Then they can be rented for around $500 per month, which seems like a very interesting investment.