.- You could also try selling to another naive investor, but you don't have the infrastructure to do so easily. 2) You'll need to evict the tenant if you haven't already.3) Have 2-3 agents tour the property and take videos of their recommendations of repairs.4) Review all of these to create consensus Scope Of Work (SOW). 5) Get 2-4 bids on the SOW6) Review bids to determine cost effectiveness of what to actually do.

@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

Repairs vs. capital expenditures.- Find out how long the provider has been doing cost segregation studies and how many they have performed- Consider the resources available to the provider.

Especially if you anticipate making any repairs or value add pieces. 

I actually just sold an older property because there were too many repairs, so I was hoping to find something more hands off as I am an out of state investor. 

No and you need to put this on hold and research the condo nuke that's about to hit Florida in the form of new legislation that no longer allows condo boards to defer necessary repairs. 

My goal is to learn how to FIND the best deals particularly distressed apartment buildings that need repairs. 

I would like to assist two of the owners find a buyer for their parts of the business/real estate.

actual mortgage, actual taxes, actual insurance, actual capex.with that said it will probably be closer to the 50% rule than using teeny tiny percentages for vacancy, repairs, capex, etc.

Quote from @Michael Belz: Now, I have two options: I could fix and flip it with an estimated $200K rehab for an ARV (After Repair Value) of $825K, having purchased it for $465K.