Put maybe $75000 down and leave me some breathing room in case of an unforeseen circumstance?

If I had to grade it, I would say C+ area.It's not stupid to just assume the mechanical need replaced; if anything, it gives you more breathing room if you find out otherwise (unlikely on a place that's been vacant 25 years).

Though I really want to get out of my current neighborhood, since house are too close no breathing space. 

start breathing again?

The dust is highly abrasive and toxic to breath, especially if it has horsehair in it and mold.

Don’t hold your breath waiting for their apologies if they kept you out of the market.

And in that same breath, for the full time REI who lives off rental income only, and shows paper losses most properties, then the BRRR strategy would never work unless a partner gets involved?

They do not feel the market is strong for MF, yet in the same breath they said that when they do rent comps, they do very well. 

Take a deep breath, take a break and think it through. 

If I sold my rentals tomorrow, I would still have clothing to wear and air to breathe.