Best way to Purchase property in France

M. Facile
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Im planning on purchasing a property in France this year.  We (my wife and I) have identified a property we are interested in.  The property is a listed historical building in a UNESCO Heritage village, and will (hopefully) sell for around Eu550k, but will require probably Eu400 in renovations, including some historical repairs on the ramparts (also on the property) and the stonework on the building. Other renovations include bringing the plumbing up to code (has to connect to city sewer), replacing the heating system (Energy currently rated G), and generally upgrading the interiors. We will also have to remove some “improvements” made by previous owner without building permission.

We do not plan at this stage to move permanently to France, but rather spending a few months of the year there up to 4 or 5 months.
The property does not currently have permission from the Mairie to host an Airbnb, and may never get that.  But at some point in the future, it may be granted.  We are not counting on this as income.

What is the best way to buy this property? In our personal capacity, as a small business? And what are the annual “paperwork” requirements..Annual tax returns, Property tax, insurance requirements, etc for any suggestion.
I understand from the realtor that there MAY be funds available for the historic repairs, but only if a permanent resident of France.  I’m thinking a French corporation would qualify as such? Again, not counting on this.
Lastly, we are in our 60’s and plan to give the property to our two children at some point.
Many thanks
KIM

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