-this is based on my experience of buying 200 year old 4 storey building in crap condition but low price in Dublin 1 twenty years ago.
- yes, you may be responsible for damages caused to adjoining building.
- If Dangerous Buildings officer from Council sees that building ( most likely if a neighbour reports it) you will be obliged to spend much money following his recommendations. "Dangerous" does not only mean it'll collapse - any perceived possibility such as a brick, tile or window pane coming loose in a storm or even a danger to tresspassers (crazy I know) would make the council official issue recommendations.
- Insurance ? You actually have an insurance company willing to insure a run-down deserted building ? I 'm amazed and suspect that they don't know it's condition or that its deserted.
You don't say where it is - if it is in a rentable area maybe it's worth boarding up -once the stability of the building has been determined. I doubt you'll get insurance.
Maybe in 10 years or so it'll be worth converting into 3 apts (which is what i did plus shop at bottom).
But ,frankly, unless it's in a great location, the best thing for someone with no cash would appear to get rid of it for whatever you can take.
There is a tiny chance you may find a builder willing to take it on and split the profits with you - you may end up with a small apartment.