By doing that you should be able to raise the rent and possibly the sales price depending on the demand.The best way to make more money is to be prepared to move to the hot areas and by buying small apartments and working your way up to make enough to be able to hire an experienced Property Manager or a Property Management Company to take care of the daily needs, both maintenance and occupancy,  that is experienced in that area or type and will report you regularly on what you need to properly oversee their efforts and the properties financial status.One good thing is that many smaller apartment complexes are owned by Mom and Pop. 

Apparently, some of the kitchen cabinets don’t have doors; the water heater was actually red-tagged (need proper venting) and the PM feels the steep driveway is a big deterrent.

You must be watching your P&L and Balance Sheets constantly in order to make sure your new business does not fail.

While to be Boston proper you are looking at some areas that are $1000/square feet you can find a lot of value in some metro areas such as Roslindale - 2 family with 5/6 beds can go for 5-600k in fair to good condition and that’s a nice middle ground location.

I still don’t understand the purpose of the $50k balloon.....Are you saying you’ll make monthly P&I payments to pay off $600k on a 10 year amortization instead of $650k, leaving a $50k balance?

If it isn't properly insulated it could compound the issue with costly electric heat. 

In the case of a property with a balance higher than what it is worth?

I have a question about how to properly structure it.  

Maybe not responsible for removal costs but you should get your money back, since you paid for a service that they did not perform properly.

He will point you in the right direction on how to properly handle your original problem. https://kylandlordlaw.com/