How can one purchase or start a shortline railroad, and what would the price range be?

Question

I have heard that when railroads abandon lines, people can purchase them before the abandonment takes place. What would the cost of this be? Also, if a line has already been abandoned, could you purchase it?

Answer 1

most are given or sold to state or local govt. for bike and walking paths. not sure why you would want to purchase

Answer 2

Well, a to-be abandoned rail line is almost always offered for sale to a private railroad/business/individual or public agency before later possibly being used a rail/trail.  

To answer your question, it certainly will not be cheap.  Even if a railroad is just wanting to rid itself of a line it will usually at least cost a few million dollars (if it is longer than, say, a few miles).  And yes, a private individual can purchase a rail line, even if it is abandoned, you would only have to ask the owner if they will sell it to you (being abandoned means the rail line is still owned by the owner that abandoned it, it is just no longer used in revenue service).

Lastly, even if you purchase and own a rail line it doesn't mean you can then just start operating trains.  First, of course, you have to have equipment to use and more importantly you have to make sure that the railroad meets all required FRA specifications.  Only then, after you have the paperwork out of the way, and approval is granted by the FRA  (for whatever your railroad will be classified as, likely either a Class III, shortline, or tourist railroad).