Things that surfaced as I did some due diligence included varied levels of risk in: being able to get the property legalized, insuring the property, being able to refinance after the seller carried the note, appraisal issues, and dealing with the type of tenant attracted to such a property. 

you will need to install a non combustable surface at floor level in that area if you leave the fireplace in.

You will be surprised how much oil/dirt was hidden on the surface in a kitchen.

Assuming the area is pretty flat as shown on your photo you may want to consider sheet vinyl to protect the old tile from surface impacts; it also provides a quick face lift that may help you get a better tenant/rent.

You're not talking about a basement drainage sump pump from groundwater. 2.

Walls & Ceilings & Woodwork & Cabinetry & Every Surface - all will need a good white vinegar/water wash.  

It’s a small surface so everything has been thought to be useful and avoid losing space.

Anytime you are going to do some painting in the kitchen, it's best to go over all the surfaces with some type of degreaser.

If the brick has heavy texture it will be hard to get all surfaces painted easily and equally.  

In many cases there might be something obvious but that is only a surface issue.Focus on solving their problem and you will get more deals than if you just tried standard tips and techniques.