The entire first floor had been gutted due to water damage, and they were doing everything they could to keep it covered!

Utilities - does it need city sewer and water, or can well and septic suffice?

We learned early on that:-3 of the 6 buildings are in a flood zone-the current owner has a loan, this lender doesn't require flood insurance-1 building took on a little water at one point during the 12 years the seller has owned the complex. 

he has been running the hot water intentionally to run up my water bill so my tenant dont have hot water to shower. my water bill is now $800 a month.

I once spent all night pumping 3 feet of water out of a basement, in a monsoon, using a DC pump attached to my truck battery because there was no electricity to the house and the sump pump couldn't work.

The stove & hot water heater are currently electric. 

But if all your imagination is able to see happening in the next thirty years of real estate investing is that you will pay off your mortgages slowly and steadily, you're already dead in the water.

Hi Christopher, I'm a realtor in the area and I thought I'd run some numbers for you just to get a better picture of the risk/reward of a LTR vs STR.Currently netting $250 a month on the LTRIf you rented it as a STR on a nightly basis for $135 with an expected estimated vacancy of 56% (average for the area) that's a gross income of $21,681 less your mortgage $17,400 and less expenses such as water electric and internet of an estimated $4200 puts your annual net at $81.To make the STR profitable for the additional work you'd have to rent it for more than $135 a night and for more nights than the Nashville average of 44% occupancy. 

And now water damage to a downstairs condo unit due to poor installation of tub spouts. 

If you aren't familiar with them, check out Cold Water Gardens in (North)Milton for ideas on layout and competition.