They have too many irons in the fire because of the TCJA.They expect to "simplify" it for 2020.

I keep irons in the fire with many MLS properties keeping ongoing communication with the listing agent about the property status and seller.  

It was built around 1920, has 12ft ceilings and everything has been stolen from the home...including the cast iron bathtub which we’re sure was sold somewhere.

May give her comfort knowing the details are ironed out and heirs will still inherit at stepped up basis. 

You could actually screen the balcony off, with a wrought-iron screen or something.I would be less worried about that than about the fact that you would be moving people in knowing that a very disruptive construction project is on their horizon.  

Obviously at some point the copper will be full of iron deposits and such (warranting replacement), but you may have moved on from the property by that point.

Pic shows us replacing approx. 15 feet of 4" cast iron drain line underneath a slab home which ended up costing the investor $1Ks extra and making holes in slab foundation after all rehab was completed. 

The less the "other" partners spend on the fix up, maybe the better their ROI, which may be contradictory to your return... all the fine details to be ironed out in pro forma/budget.

To make a long story short, the final inspection, according to this inspector, revealed some major problems with the footings, floor joist, ac duct work, water heater, and he wanted me to replace a 4" cast iron sewer pipe out to the main(because he suspected it could go bad in the future) and no insulation under the flooring in the crawl space.

Ironically, my attorney who is representing me does not know what I am trying to accomplish.