The issue is the down payment is over $250k and no one has that or is willing to fork over that amount.

There are probably a lot of hidden issues wiht the house.

And make sure you live in that 1st house so you're close to and can address problems as soon as they appear. 

Tenant issues?

One downside of MF can be the age, and insurance can be a big issue.

But during the buyer’s due diligence, several unexpected issues surfaced, each cutting deeper into the profit I had worked years to earn.The first issue was with the water lines.

There would potentially be some weight issues with the 2nd+ floors of some shopping malls, depending on what the potential tenant wants to store in the upstairs unit. 

I am remembering a lawyer friend advising her parents on land issues.

There are also ways to go about mindset shifts if that's a serious issue, but I don't know, it sounds like you've spent time with this property, you know all about it, and you have a bunch of other stuff going on in life.For instance, you decide not to raise rent all the way to market rate....This is probably a good move if you hate maintenance calls and your tenants know to handle some maintenance themselves because they are getting a bargain deal.

The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc.