I made the mistake of agreeing to take the building on only after getting her to agree that she had both the funds and the desire to make the necessary repairs to bring the building up to code to a habitable condition.  

I gotta say folks, I am really getting tired of Clayton Morris and his non stop attempts to censor all of those who allege that they were financially harmed when they worked with his company Morris Invest. 

@Amy ZemserI am not familiar with NY law, but in California, providing heat is a habitability issue.

Bank loans or conforming loans may work for properties that are habitable and not in need of significant renovation.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

With two children (my heirs) and multiple units, I am harmed by Prop 19. 

The tenant is already not paying so there is no harm in having the seller ask them this legtimate proposal.

Whats going to happen on day  1826, I'm going to wake up at 11am instead of 5am and do nothing but scroll through insta all day until its time for bed throwing away all the habits I've built?

Accomplishing your goals is probably more important than jumping in as investor at the very peak of a market cycle.If you can make a habit of accomplishing your goals, you will have a step on many of the world's "real estate investors"Bull markets make everyone look like a skilled entrepreneur.

Everything you need to know can be learned by simple getting the Calton Sheets No Downpayment Course" and getting into the habit of turning your drive time into study time.