Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC.

If you can tap on the wall and it seems hollow I would say it is loose wire lath. 

Remove carpeting, furniture, loose debris and broom clean.

After loosing, two properties I got frustrated and got my license.

Yes, you loose some market gains, but bonds have been flat.  

We don't presently have the loose financing and overbuilding that led to the last downturn.

We're working on fixing the violations listed (crack in the lintel, broken window pane, loose deck board, etc), but how will/could this impact our case on the tenant? 

I've had to hang plywood myself to limit water damage from a loose door (wasn't going to break anything that they'd have to repair, just cause me problems in the remodel), I've also told the bank to get someone to clean up trash left behind by illegal dumpers. 

I see both of these as loosing properties, without running numbers, i think you loose money on both of these every month. sell them both, you will make money on them, then buy yourself something that will make you money.

Now we havent got the resources to get the taxxes and payments made, so are likely going to loose the property unless I can find a way to get out.