To clarify another point @Tiarnan Gormley: I EMPHATICALLY disagree with any & all advice being given of: sit-tight..... wait..... be patient.... watch paint dry..... do nothing..... 

We resist.  

Also, from what I read in Bloomberg, midterm rentals near major hospitals can sometime command a decent premium.. especially if they include some nice furnishings.Little Tweaks Count: Even minor upgrades, like new door locks or a fresh coat of paint, can help you justify a stronger rent.Driving for Dollars & Networking..

Your pictures do not paint a picture of what I'm looking at.There is a renovated 2bed/1bath right around the corner for $1,050 and it has a decent floorplan.

So developers are building multifamily on these parking areas.Since these areas aren't located on top of residential areas, the zoning approval process has a lot less friction and resistance from NIMBYs.Here's an example in Rochester where an old Sears was turned into apartments for seniors.https://www.passero.com/projects/skyview-park-senior-housing...For multifamily developers, this could be an opportunity for building and partner with the mall owners.

New furniture, coat of paint, and some minor rehab to the decking.

LL would have no incentive to paint, update flooring, etc.  

Since COVID, the demand for cash actually increased, so this is a recession resistant play.

We asked the owner if we could start painting the house before the closing date...

Just recently I undertook to do some significant painting at two of the buildings and my wife offered to help me out.