Let me know your thoughts as I have not looked at the application of cost seg on equipment we are removing to repurpose.   

We find off-market deals and provide full service on repurposing old buildings into commercial/residential for a profit.

It is the classic debate between some money now or more money over the long term, also it will depend on the rate of return if it is low it might be better to sell and invest the money elsewhere, if not it is probably better to hold.

Classic flip and yes they were classified as dealer sales. 

Any other advice in general  on a mixed use redevelopment (what I call repurposing) project is much appreciated.  

Because it was more of a commercial building before, all the ductwork is in the ceiling, the ceilings are the typical florescent lights and particle-board-ish squares you see in offices, and the bathrooms are small with those classic tiny, heavy white sinks with ugly faucets that you find in other commercial buildings (where you can see the metal piping underneath)Has anyone tried to renovate a building like this?

@Coran ClementsHi Coran,If you have another deal to repurpose the capital, then it may be wise to sell.

Including utilities in a rental agreement can be done and I suppose you can make some money for it but you are taking on additional risk for an unexpected upside.If you look into apartments, one of the classic ways to add value and increase revenue is to take a building/complex that has included utilities and break these out through a RUBS system or similar for tenant's to pay their own way.At the end of the day, consider what's standard in your market and take a business decision from there what's best for your business balancing risks with upsides.

"The Richest Man In Babylon" is a classic, but the one that helped me most in the beginning was the "Millionaire Real Estate Investor" by Gary Keller.

and classic move on the lenders part.