The owner does not want to extend the debt for 30 years.

@Landen Amann, you're referring to a 1031 exchange. 

Mistake #3 was not having knowledgeable people around to be able to ask questions.

I was able to negotiate the price down to $172,000.

We will have to watch this space and see if there is a tangible benefit to be found for all affected people. 

But I would be passing up on a big promotion that could lead to significant increase in income. 

They had carpeted the bedrooms and common areas, and the living room was still original wood...well I decided to pull up the old carpet and lo and behold - original wood in pristine condition.

I assume it's better for the buyer's Realtor to present the info to the Appraiser?

You are free to do whatever you want after. 

And each year when the lease comes up for renewal, I ask them to contact the housing authority and ask for a rent increase.