Principal, interest, taxes and insurance. 280k with 20% down at 7% = about $1500 a month for PI.

Insurance wrote a check for much lower than what contractors were bidding for restoration/remodeling. 

If you have any questions regarding the real estate purchase (negotiation) process, the loans you might be qualified for (low downpayment or low interest rate options), or the insurance you may need for the purchase I can answer any of your questions.

Cover half the mortgage/utilities/insurance/taxes etc 4.

I double "co-hosters" in most markets are getting 25-30%.If property management interests you I would suggest you become a licensed and insured PM company to increase your credibility. 

If the law office is in on it, then it would be fraud as well and possibly insurance fraud if they turn it over to their E&O insurance because E&O insurance is for mistakes not for intentional acts.

But the facility is obsolete so that no self pay patient or insured patient would live there.  

Get the Certificate of Insurance for the electrical contractor in case there is an issue during installation and also thereafter. 

Start a paper trail.Otherwise, as long as rent is coming in, just hold on (hopefully) until the lease is up.It is your obligation as the landlord to make necessary repairs in a timely fashion.

Brokerages are just umbrellas to keep you safe (insurance) from the rain.