It may all be manageable depending on your willingness to investigate and then your willingness to tackle the problems.Your response to the inspection will depend on if you’re all cash or not.  

Those are good questions you ask, and I'll tackle just one of them -- how do new investors get their start?

Once we have some cash flow we will probably tackle some of the foundation repairs.

Lots of issues to work on and I've been reinvesting lots of money back in the people, facility (rooms, technology, equipment etc)   Going into 2020 we have one more big project to tackle then knock on wood all that's left is some more capital improvements and fine tuning our processes/adding benefits etc.   

I figured there would be someone on the forum that has tackled a project comparable or even analysed a similar deal.....

You need more experience before tackling that type of project - mainly because you don't know what you don't know. 

It's a market for those that have a very specific focus and can do necessary the blocking and tackling. 

I believe this to be a nice opportunity for myself but I just do not know how to tackle this!

1) You need some experience first in owning a multi, before tackling a 100% vacant building 2) You need a BIG cash reserve to factor in unexpected delays in the rehab and lease up 3) You need an experienced team to handle this type of deal.

You need to layout the game plan with your lender, find out what his requirements are going to be on all future properties, then tackle the acquisition of new properties according to lender requirements.This way every time you take him a new deal it should fit neatly into the lenders requirements prior to getting the loan.