This analysis will actually help you determine how much cash you need for your first deal which will guide your decision for a well paying facilities job.  

Standard term lease for minimum required by HOA (usually 6 or 12 months) with a separate agreement that lease can be determined by tenant after certain amount of time. 

Unlike DSCR (Debt Service Coverage Ratio) loans for smaller multifamily (i.e. duplexes, fourplexes, etc.) that allow market rents (not actual rents) to help determine if the property covers the mortgage payment, commercial loans look at what is happening today.

Anything that involves a licensed architect or engineer providing a stamp is going to cost something, because they will review the person's work to determine if they're willing to bear the liability for that, and that takes man-hours.My previous firms always flat-out refused to stamp someone else's drawings because they had no idea whether any of it was on the level.

Significant improvements excluded were homes that after the 2017 sale were torn down and built new, large renovations, additions added, extensive deferred maintenance addressed. 16 of the 152 homes were excluded leaving 136 to further analyze.Obviously there is some subjectivity in determining which homes had ‘significant improvements’.

How does one determine the class? 

First you have to determine if you want to go Lead Free or Lead Safe.

I understand that the IRS requires the properties be for investment, but since they were gifted, I'm not sure what they would look at to determine.   

I will pay a Buyers commission.Looked at similar pricing with my broker in the area and determined their $900,000 was a fair price, but not a "duress" price. 

Specifically regarding plumbing you could add (depending on your State or Local Laws) "... unless determined by repair person that such blockage occurred during the time Tenant controlled the Premises and due to some fault or negligence of Tenant, specifically excluding blockages caused by roots or backups from the street..."