Maintenance issues., etc., etc., can't be anticipated, but swiftly resolved with a stellar PM company....

Despite the complexities of the IRS code, would you be able to refer me to the paragraphs that address this issue?

Issue closed… Let's do some deals together!

As you said, it's been on the market since December, so there has to be some issue with it.  

Somehow, my cousin is convinced that if something worse were to happen to his parents (they are 90 and 88 yrs old with increasingly challenging health issues), and they would to be cared for in a nursing home, that the state of NJ would step in and claim all the assets to "pay" for their care.  

If you buy post-1978 you likely miss all of those lead-based paint, galvanized plumbing, knob-and-tube wiring, asbestos, etc. issues.

I have rentals in hammond and they don't have any rental inspections either which is really nice but their inspections department is brutal with code violations when you do work in their town.

I went through a similar issue here in Philly and had estimates ranging from $4-13K.

Also there are some issues regarding what's an expense vs what has to be capitalized and depreciated.

I'd like to do some renovating in one unit specifically - should we just terminate and get on with it or issue a 12-mo lease with higher rents and give them the option to stay?