This has its own set of complications and limitations going forward. 

After thinking about it, I'm not desperate to buy and didn't want the headache or complication of taking on this risk at this point.

Similarly, bonus depreciation may allow for 100 percent of thy shorter life property to be depreciated in year 1.1031 Exchange:  Although beneficial to increase cash flow and reduce taxes, a cost segregation study may complicate a future like-kind exchange under section 1031.  

Juniper Square for me was powerful and if you are offering complicated equity structure with waterfalls all over the place then that is your tool. 

Little more complicated than this but you probably need tax advisor. 

Similar but a little more complicated than running traditional buy & hold rental analysis.  

Most of them are not complicated issues, but the three draw my attention are:Sewer pipe rusted -- Hmm . . . sounds to me like a cast iron pipe, and rust happens, but it is also the cause for failure for these lines and replacing the sewer lines is usually not inexpensive.Sump pump repair - easy enough to find out the cost of this, but it's variable so I'd want to nail this down.Dryer venting - there is usually an easy way to run new venting, and "the right way." 

There is another complicated way to technically do it right, but we have to practical.

Partnership tax returns have gotten significantly more complicated over the past 5 years. 

The building is condemned and the land is worth maybe $5K.I know this a lot of information and kind of a vague question, but I am in a very unusual spot and Covid has complicated an already difficult situation.