What's the plan for the components on this one (plumbing/HVAC/electrical)?

Even though my instincts want to buy I think it may be detrimental to my growth compared to learning to fix up a property to rent.I feel as though it takes more skill to fix up a property to rent but is worth it in the long hall. 

Many times there is also an owner carry component that can be made to boost your noi as well.One other thought would be to package your 1031 with your brother and actually look for a 1.1 million asset or couple of assets that may fit your bill.  

This is a business that if you make the wrong purchase it can be detrimental to any credit you are hoping to build.

Some of the improvements are tangible personal property that gets depreciated over 5 years (or 7 years for some property) and some will be considered residential rental property if they are structural components, necessary for the general maintenance and operation of the building or necessary for human comfort.

To use this type of window as a replacement window it would require removal of some exterior components such as stucco, brick mold, or siding.

Typically on the sale of a business it is 10% fee.So if business sold for 300,000 then 30,000 to business broker unless a split between buyer business broker and seller business broker.The commercial building component is a different commission structure.

This always translates well into becoming an investor as managing the numbers is always an important component. 

When were the major components replaced?

During your ownership you can order property inspections to manage its condition and help mitigate any physical defects that will be a detriment to value.