I struggle with just sitting by and waiting (especially knowing the fees rack up for my tenants the longer they go without paying!).

I do see some listings having fold-up suitcase racks instead as a compromise.

Can you imagine how much it costs to put a roof on that place?!    

Issues with the property at closing: low water pressure, aging roof, several lights not working, dated interior, water stain under HVAC unit, damaged decking (burn hole & rotting boards), old appliances, holes in drywallAnticipated cost to renovate:  $22500 (includes roof, repiping from old galvanized pipes, renovation of currently empty unit)  The currently occupied unit is TBD on cost, the tenant has been in place for the past 3 years.   

In my experience, relying solely on pictures can be outright misleading, they do not provide insights into the internal structures or the condition of the roof, plumbing, and wiring to say the least.

But you are talking the roof will get ripped off, etc.  

I do like the fact there is everything under one roof.

Disagree with this, you still have HVAC, turnover and roof repairs in multifamily which could just as easily wipe out your cash flow. 

I can build the A-frame for $53k in materials and the shed roof cabin for $41k.    

Likely the roof and the HVAC/furnace will be the biggest expenses that might occur but a hot water heater here, a clogged toilet there and suddenly the bills start adding up.