If the owner is happily paying for repairs, the PM gets paid, the owner improves the value of their property, and the tenant now have improved living conditions.

Some situational pressures are a somewhat wobbly rental market due to economic conditions (Nike/Intel layoffs). 

It's not the ideal living condition, but it's a proven method of investing when real estate is unaffordable.

.- If a property has already been on the market for longer than the average DOM, consider an offer that has terms/conditions favorable to the owner while maintaining a purchase price amount that is favorable to you.

However, in today's market conditions syndicators that are pushing a hold period under 5 years would seem to me that they are being too aggressive on assumptions. 

Because the condition of the building has deteriorated requiring substantial renovation she decided to stop renting it out after the last tenant moved 2-3 years ago.

Price, Condition, Access. 

I plan to rent it for a few years and sell it depending on the market conditions in the future.

Property Condition: when was it built?  

Adam,Things are highly subjective to what / where / condition.