Overall, while multifamily properties can be lucrative, they require careful consideration of the financial and operational challenges involved.

@Mike Terry sounds like a pretty good argument to go after the property, I think your question is more along how to value it, and account for the deferred maintenance. 

Monitor the account that all x number of payments went out.

Quote from @Max Emory: @Bob Asad, there are a lot of different account structures out there but absolutely keep security deposits in a separate account from your opex/income account. 

Also may need to manage ourselves to account for PM cost.

There are variables involved, and there’s of course skill and effort required not just calls.

👏Regarding subcontractor contracts, it’s essential to have a well-thought-out document to ensure clarity and protect all parties involved.

There is a lot of training involved, it takes months (up to 2 years), and they usually like to start them off as puppies.

I'm not completely foreign to the construction process as I grew up around a family that was involved in home building, but due to living in another state I can't really lean on them for the direct, hands-on guidance. 

That said, you could go to the mayor and police chief and ask what steps were taken with the involved officers.