And that could smooth over any future rough patches.

Any ideas how to patch, or cover up this black hole?

These are all short term patches to try to fix what could be a long term crisis.In Europe, the EU has not been able to respond as fast as the US, but conversations about the "reconstruction fund" are making some unexpected topics arise, for instance, the tax breaks (or maybe tax evasion) some US technological companies (FAANG) are getting in the EU.

currently, the water is coming in in a small trickle when it rains hard. i think i need to dig up the dirt on the side of the property where it comes in, and do a patch. there was some significant flooding in the basement before i purchased the property which caused some of the supports to rot (which i am now replacing with steel adjustable beams). beyond that, there's that white powdery type stuff (Forget the name) that accumulates on the walls which i assume is due to moisture. i'm already stuck with this property, but i plan to purchase more in the future and i want them to be as hands off as possible, so just trying to look out for things that can cause me a headache (but i also want good deals, so maybe i'm doomed in that sense :D )

Seller just had a roofer patch some missing tabs.

I've had 10 year roofs fail and need patches and my 4-plex has the original roof from 1983!  

For just doing minor patch work like this you will not need a permit from Bexar County / San Antonio.

Do you rip out all plumbing and electrical or just patch and fix?

It is a lot easier to "Add" in a new platform, than it is to "patch". 

If you need to upgrade to a HE furnace or a power vent water heater, in addition to what you're considering, that's more cost.The other things that'll drive cost on this include: can your roof be patched?