I don't know any, and I don't seem to run into them at the gym or grocery store.

It sounds like you've absorbed a bunch of problems already and a new sewer line and the current basement situation will cost you way less than the $50K in fees to sell it. 

One risk I could think of is - Even witb a 20 year guaranteed lease, thr company could bankrupt & may put me in a situation to look for a tenant.

.- Tenant submitted a work order for low water pressure in 2 bathrooms- Tenant submitted a work order because the garage door doesn't close all the way and left a 2-3 inch gap at the bottom- Owner initially refused to address either work order- Owner demanding the tenants place furniture pads on each piece of furniture- Owner calling multiple times to speak through the work orders, asking when they've been scheduled, calling a couple days later requesting the invoices- Owner calling because they want to access their storage in the basement so they can remove several pieces of furniture being stored- Owner now emailing requesting multiple property inspections throughout the lease cycle- Owner questioning my experience and relative PM knowledge because I'm not following up with her in a timely manner (the following day after the work order)Keep in mind, this is 2 weeks after the tenants had moved in and the tenants are very happy in the home.This is something we see on a regular basis.

I’ve been exploring buy and hold opportunities in my area, and I recently came across a situation I’d like some advice on.I’ve come across a property in my area that I’m very interested in, but I want to make sure I approach the situation the right way.

Its situated along the Colorado River if I recall. 

Rent-controlled places can still be good investments, but it’s all about playing the long game.What’s the situation with the rents?

@Monty Alston sorry to hear about the tough situation that you are in but glad you are being proactive about it.

This just seems like it puts me in a potential bad situation if something goes wrong during the process.  

But it could also be a coffee shop or an etsy store and the cash flow goes into real estate.