The parking lot is paved and excessively large enough to park more than a few cars, 10 school buses can fit in the lot.

You'll never have police calls for excessive noise, I guarantee it!

There needs to be plenty of cash flow available per each property to weather out bad times as well as excess cash reserves but I dont see how it can fail if you have that along with good property management.  

it is fear that holds you back.Knowledge or excessive funds are the best way to overcome this.Which one do you have access to?

Wipe the wall down with the DIF solution and a sponge to remove excess glue.With Drywall its a bit dicey.  

Usually I would move on but the property might make a good rehab project; it is however very risky in that the property has been vacant for a very long time and actual repair estimates if in excess of the current estimate, might cause some problems.These are some of the numbers:ARV = $165K (but, Zillow =190K, homesnap=189K, homes.com=$145K, realtor.com=270K, eppraisal=$312, average=$221K)Repairs = $52K (based on sellers contractor, unverified.

Just make sure you are accounting for both the mold remediation as well as removing the source of moisture.  

I plan to use any excess money after it is over 50K to buy additional properties.I have a 1 Million per occurrence personal liability umbrella that my agent said would cover all of these rentals.  

The ******* who lived in the house before me decided his DIY work would include smearing excess mortar everywhere SMH!

When this plumbing is broke, it could break anywhere along the pipe and cause major ceiling damage or flooding to the home in excess of the cost to replace with more reliable pipes.