To do that, to completely re-zone and re-plat the entire area would require, if my history is correct, the largest exercise of eminent domain in US history. 

Sometimes, properties owned by non-profits have deed restrictions, zoning conditions, or agreements tied to their use.Tax Considerations: Non-profits often hold tax-exempt status, so you’ll need to ensure that taxes are assessed correctly once ownership transfers to you.Potential Public or Internal Scrutiny: If the transaction appears to undervalue the property or is perceived as exploiting a non-profit’s resources, it could lead to reputational risks for you or the organization.

Were they communicative up front?  

@Alecia Loveless is correct--tenants need access 24/7 to their electric service panel, water and heat, assuming those are individual utilities for each unit. 

C class in general is in for a major correction in my opinion (a lot of which has happened already but I think there is more to come) and this will be another nail in that coffin.But as with all chaos, opportunity breeds. 

The "correct" way I'm assuming you're referring to.

I think my line of thought is correct.2nd and very few investors realize this.. but lets say you have a wholesale deal and your buying it for 100k and the wholesalers contract is 50k and there is a 50k assignment fee..

As important as due diligence, analysis, knowledge of the property type, track record of the syndicator, correctly predicting economic trends, and timing is, the number 1 way to avoid a devastating loss is NEVER INVEST MORE THAN 10% OF YOUR INVESTABLE ASSETS IN ANY ONE DEAL.  

What is a good system to create around standardizing rent increases where applicable / best way to communicate it to the tenants? 

@Russell Brazil is correct about time in the market.