A structural engineer would be your best bet to have a look. 

I have been searching for properties in the boroughs but have decided our best bet would be to start searching in Jersey (perferably close to midtown) as properties in Jersey seem to be less expensive for a 3-4 multi family house.

I bet that tenant of yours stole it from somewhere like a hotel, couldn't open it, and just left it there.

I bet that this IS how it was reported.

NY is bad on that end .So I bet the pro note buyers could price that better.. than someone like me.

Savannah is your best bet for buy and hold properties, but in terms of living (depending on your budget) I’d look in Effingham County (next to Chatham County, but better schools and less crime) or Richmond Hill.

Valley stuff is flying off the market lately so I'm betting you'll be good to go!

IMHO its not too difficult to source a realtor and put it under PM on your own.Otherwise you can source in san bernadino and riverside counties and bet on the appreciation play locallyPrices in OOS markets are the same as they were in 2006 so be careful...

Even if you are able to cash out on it, you really won't be making any money, especially when you factor in vacancy and repairs.If you are set on this being an investment property and you are sure it is worth $210k, your best bet would be to unload it, take the cash and move on to something else that would be a better rental.

It sounds like my best bet is to talk with the current owner and try to get him to sort things out prior to the closing.