In 1957-59 my family designed and built a modern ranch home with a daylight basement, now used as a college rental and valued at under $200,000. The home was designed by an architect, in a small university town, where demand for college rentals is not increasing. The home is relatively small, but has some remarkable features worthy of preservation including its siting on the lot, the view of the mountains, mahogany woodwork, and a very workable floor plan for a family or more. One of the three units has always been an apartment and the other half of the lower level, a rec room and storage, was converted into a large studio. There are two fireplaces, but tenants do not use them. I am seeking advice on what to do with this investment. My co-owner of this and another property (an 1887 farmhouse of 600 square feet, valued at $75,000) would like to liquidate both properties. My design ethic requires me to consider other options including seeking a co-investor, using the equity I have in these homes to avoid further deterioration, or ?? The 1887 home has few original interior details other than woodwork, while the 1957 MCM is loaded with potential and has "good bones" according to one renovator.

I have pictures, but I am not including them at this time --