Hatem, only you are able to determine how much risk you are willing to take, maybe you have a great paying career job and a lot of capital in reserves which will help mitigate some of the risk, but my advice is to start with something simpler especially if you are a new investor. 

:Health-Related MoveYou meet the requirements for a partial exclusion if any of the following health-related events occurred during your time of ownership and residence in the home.You moved to obtain, provide, or facilitate diagnosis, cure, mitigation, or treatment of disease, illness, or injury for yourself or a family member.You moved to obtain or provide medical or personal care for a family member suffering from a disease, illness, or injury.

It is not likely that the price of a previous sale would severely affect another because it can always be argued that there were mitigating circumstances.

@Dave Foster That is such a unique way to distribute the funds from a 1031 and mitigates your risk across numerous market cycles. 

I did a deep clean, added some paint, and put in a radon mitigation system.

It may be a good idea to purchase title insurance to mitigate the risk if you are concerned 

Am I right in assuming my right to mitigate damage and respond to recurring issues trumps any responsibility I might have to maintain access to shared laundry machines?  

But in reality it is an investment property they use some for personal use.Typical lenders are all about mitigating risk. 

The attempt to convert the zoning invoked a ton of rules that don't seem to apply for office, like parking, distance to adjacent buildings, rights for neighboring businesses, etc. and when I tried to find ways to mitigate, they existed but again costs too much.Overall it initially appeared like a no-brainer but I made the mistake of only focusing on what I knew, meaning the reno and renting it, and having plumbing to create bathrooms and kitchens, and enough amps for electrical, and maybe splitting meters for utilities, but that other stuff that converts from commercial office to residential was a very strange, all unfamiliar and would have been very expensive.Might not be the case in your deal but probably worth checking out

The way to mitigate the first concern is to try to have a good idea of what your refi is going to look like before you buy.