The age of the property doesn't always mean things aren't still functional, and safe.

If you aren’t familiar with what this is, it’s a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter.

There simply aren't enough units to spread the costs across. 

Not to mention most sellers aren't going to give you unfettered access to walk every unit on a property and examine all major mechanicals before you have an executed contract.I'd recommend reading https://www.amazon.com/Complete-Buying-Selling-Apa...

Then, if you aren't a failure like almost everyone is, come back and talk about "what if?"

If you own fewer than four rentals and you don’t use a broker or agent to rent your property you don’t have to adhere to the fair housing act.You aren’t  required to modify the property at your expense to accommodate the disabled Tenant.

There aren't a lot of lenders willing to do 28K loans. 

More and more I don’t do small jobs that aren’t profitable, but it is a big learning EXPERIENCE dodging bad deals, meetings or bids.

There may be minor structural things I could see fixing without a permit, however if you did the work and you aren't even sure if it was done correctly I would get someone (engineer) in to confirm it is correct/acceptable.

If you aren't using the 2-T, and you had an attorney draft a P & S for you, why not just edit it so it speaks to the contract being assignable?