A man cave in the basement which will have it's own exterior entrance, a bathroom, a wet bar, AV system and access to a lower level single stall garage.  

Sounds like she is trying to get you to cave. 

From outside you can see the roof is caving in and the frame of the house is warping which means its in bad condition.

A property manager who also owns their own inventory would be my choice, and most would probably be delighted to guide you through the acquisition process, if they scored the management contract at the end of the day.

Not sure how since there was a hole in the roof of one of the upper units and a tarp of 4+ months catching rainwater, tenant heating a unit with their gas stove due to lack of heat, foundation about to cave on one side, (Duluth's steep hills could actually collapse the house on cave in) rotting tree trunk holding the house up in the center with 3-4 layers of 2x4 shim board etc etc.  

@David Jasinski, you're very welcome and I'm delighted to hear that.

@Michael Basta,nicely done, you brought light into that old house (ahem cave).if you don't mind me asking, what color/code paint you used?

Better to build on than to lose the man-cave.

What they can and can not say ( I do not want a plumber telling the tenant that the roof looks like it sagging, then the tenant goes berserk calling us and saying the roof is caving in at this very moment).

They'll give you so much info and so many ideas on when, where, why, how and with whom to invest that you'll be delighted to stay for that after meeting drink to network with all the potential partners you'll meet there.That is the best and most fun advice I can give you of a general nature.