Sheila Consaul, 65, bought an abandoned lighthouse for $71,000 in Fairport Harbor, Ohio and turned it into her summer home. The renovations began in the summer of 2012 and are almost complete. So far, Sheila has spent over $300,000 on renovating the light...

Millennials Adam Colucci, Jesse Wig and Dan Spanovich bought an abandoned high school in Homestead, Pennsylvania for $100,000 and turned it into a 31-unit apartment building. The renovation cost about $3.3 million and took 18 months to complete. Adam, Jes...