Getting seller to do repairs. 

Also make sure you have quality insurance with an umbrella policy.

That could mean poor tenant quality, which could lead to them not paying or eviction.

If you flip your flooring upgrades and appliances will probably need to be of higher quality vs a rental.

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

However, the risk of significant repairs is not to be taken lightly. 

You can also sell them on sites like paperstac, debexpert or others as well as brokers like Mission Capital, Rams or Phoenix.Depending on quality of paper and interest rate will determine sales price - also I would say self servicing can have a negative impact on the sales price as the major players in the space are not fond of self servicing. 

You may need to disclose that you repaired this to buyers and want to include more detailed information about what was done.

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.