My question on the EBT is if someone wanted to make it a destination ride, it has to be longer that it was operating before it shut down. Assuming you had the necessary funds.

If you wanted to go to Mt. Union, that portion was sold off, so what possibility exists to get it back?

If you wanted to go towards Saltillo or Robertsdale how would the locals reacts? Nowadays NIMBYs delay or stop many proposals from going anywhere. Just takes one or two to kill anything these days.

How clear is the title to the former RofW? Property taxes kept current?

Since it hasn't seen a train in 50+ years what does Pennsylvania law saw about adverse possession? When you look at Google Earth in several places it appears the locals have encroached upon the RofW.

How open are the State, County and City Governments to reopening more of the railroad? You have several major and minor road crossing that would have to be re-established and for the major ones I can see the state insisting on gates & lights on all of them. (at around $250k each)

No one in their right mind would buy the EBT without a solid (and favorable) answer to these question and these are just starters.

There is federal and (I think) state funding available that could pay for those improvements: USDOT - Railway-Highway Crossings (Section 130) Program

Rick, you may be looking at our operating budget, which only governs keeping the lights on (insurance, heat, light, utilities, general repairs, general donations, dues, ticket income, etc). The rebuilding of locomotives, track, new cars, etc are done with capital funds. Our total income in 2017 was around $450K, as opposed to our operating budget which was $106K income (budgeted income was $85K).