Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.

And assets that provide you with great depreciation but not great income or stability are just a form of robbing from Peter to pay Paul.   

Replacing a bathtub with a shower can make narrow bathrooms feel larger and more modern.That said, consider keeping at least one bathtub in the building for market appeal, as families with small children or certain renters may prefer it.

Right now, I do have the "REALTOR" status but wondering if it make sense to keep paying the $800/yr to keep the status?

After collecting tenant pass-throughs for the year, do you pay the property taxes at the end of the year or the beginning of the next year?

I lived in a college town and student rentals did very well as did STRs for parents coming in to visit their children.  

Eventually, we did get tired of being landlords, and as our children came along and started growing up, we stopped doing it.

If we adopt this mentality, then all OB/GYN doctors should be female and have children.

All the youth have left, maybe the elders are still there or they are deceased and the children don't want the property.

Pays on time?