That's another nagging thing - doing it that way is in essence a reverse exchange but outside the safe harbor of rev proc 2000-37.  

At the time I did not have a fixed income and could only convince my bank by buying "safe" properties.

Am I on safe ground having not proceeded with this application? 

I understand 1000/yr isn’t a lot of cash flow but it seems like a decent/safe start if I continue adding more units.

@Mark Forest since it's over $2500, we can't expense under the De Minimis Safe Harbor.

I assume some portion of the plumbing / piping needs repaired so I'll say $6k to be safe.

I believe the IRS issued a safe harbor at 2 years but if you don't have it as business property for 2 years that doesn't mean you are wrong, it means you are getting into the gray area.

Do I treat this as an abandoned property, or do I need to file an eviction just to be safe?

Yes it is, it would likely be an expense under the de minimus safe harbor election.From a business standpoint I would question why you feel you need a system for a rental though. 

I know I cannot discriminate to any families with young children, so I know that I will have to get the lead taken care of, but curious if I can technically be safe if I only have the renters side de-leaded.