When I have a situation like this, I give them a written notice to accept the property in its current condition or get out.

Assumed nothing could possibly go wrong in the next 5 years what you want when you look at an investment property is to know the current rental amounts, specific expense items, and conditions of the building, grounds, and mechanical systems.  

No emotions... no arguments.... this is the lease conditions, this is the eviction process for not following the lease terms... that's it.... no emotion. 

We built and sold 8 spec homes from 2020 - 2022 before taking a break and haven't been able to get back into it since due to market conditions in our area.

You’re not overleveraged, so you’re in pretty good condition to ride out a downturn.  

With markets adapting to changing economic conditions, now is the time to explore innovative investment strategies.

Personally, if your market tends toward the former condition (better/normal appreciation) I think it's a fairly safe deal looking at the long term, assuming infrastructure around you continues to support the idea of renting it.

Make sure you understand the auction process and are prepared for any unseen issues with the property.Auction Considerations: With auctions, pay close attention to the condition of the property, title issues, and financing restrictions.

You can make minor adjustments based on the type of appliances (dishwasher, clothes washer and dryer, air conditioning, etc.) and the size of the rental.

As others advised, get a structural engineer in there to review the conditions.