Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

Oh....you can also pay off the mortgage even faster with your ample income or soon to be ample income.  3-5 year payoff time is definitely possible. 

However, you will get a range of perspectives because several here don't mind and even brag about losing monthly.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

You'll generally still need some cash or liquid assets to get the deal done though even if they fund 100%. 

They are always leased here even for the corporate stations where they have a convenience store, a Popeyes or the like and a car wash.

And while a 1031 exchange isn’t an option, some people explore alternatives like installment sales to spread out taxes or even tweaking the investment structure so your returns are treated as interest instead of equity.There are definitely some creative strategies out there. 

Does North Carolina law require sellers to disclose past repairs or damages, even if they have been fully addressed?

I'm working on getting my bigger pockets pro account finalized even though I've been a member for about 1.5 years.

I am on tap to raise 1mm well within my first year...I would have never even tried to do that without this group!