You could give notice of non-renewal to one or more of the tenants, renovate those units, and then incrementally increase the rent of the other tenants.

If you 1) Depreciate over 27.5 years a residential rental but its not 2) You list on Sch C yet don't provide substantial services 3) You list as a passive activity BUT in fact, it is non passive. 

Spend some time finding an expert!

The person writing the article is usually a very good writer - not necessarily an expert in what they’re writing about.  3.

I know we're in a good position because the sellers will now have to disclose some of the crap-ton of problems their place has and the foundation expert said that by refusing to fix the foundation they may end up having to be in a "sold AS IS" position which will drop the value significantly. 

Terminate their lease for non-compliance.

I am here for experts opinion to find out what you guys think?

I'm not a lawyer or expert on deal structuring but what we see the most common is a single GP (general partner) and a number of LP's (limited partners).

@Cory MorrisMany residential loans are non-assumable.

Non payment evictions are practically non existent.