Curious how this will play out in the courts (granted it's LTR) and affect pricing products used for STR such as PriceLabs (which I use but have to seriously manually adjust for very specific reasons).

It would be wise to rectify it before transfer of title so your starting off clean and hopefully won't have any issues when you go to sell down the road. 

Most rental properties in Milwaukee are old and run down, our product stands out. 

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

But you are absolutely demonstrating your intent to hold for productive investment use.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

I realize that commercial investing is more in-line with my goals, so I have wiped my slate clean and ready to start over from the beginning.

I would suggest going to the find a lender tab here on bigger pockets to find a local lender who has the same products. 

They will give you a few minutes of their time and tell you if their products are right for you.