I do have some money in savings that I could use for a down payment, however if I use only that money, I will be quite limited in how much I can spend. 

Maybe this is a bad idea but this is the only option I have available or see within my limited knowledge so far.

IIRC you do not need the cost seg study to be completed before the end of the year, although you do need to have your rental "in service" before the end of the year.

Depending on how everything is set up, what you consider a max for retirement account contributions may only be the 20k limit whereas you can go up to ~$70k in total with other methods.

I am in the process of networking locally to start figuring out who can/should be part of my team.Originally I had had an interest in being a limited partner in syndications, but with my goal of enough cash flow to replace my day job (and eventually my wife's), I don't think that that is going to get me where I want to go.So I am now considering SFH, small (<4 unit) multitenant.

I understand that Section 280A limits the expenses to income if the rental is part of the primary residence.

So I would tell you that 2-5 rentals is a piece of cake to manage - even if working full time (we kept 2 corporate jobs until we were up to 20 rental units.)The other thing I would tell you is that there are MAJOR control differences between being a limited partner in a syndication - where you are more akin to a passenger on the bus which is your investment, versus full control of everything when managing your own rentals.  

Room offerings are limited!

I'd certainly recommend doing some kind of environmental study given the chemicals and such that could have been used there but more-so I'd be curious if the city wouldn't have a testing requirement to redevelop. 

If the only option for a potential buyer is to continue operating as is, that’s going to really limit your options.