I've used them successfully with no help from a lawyer or an agent. 

If it was condition on the PA that current leases were to be provided at close of the sale, then you are within your rights to sue the seller for not disclosing the current leases.

It was not difficult to get financing even for a house in terrible condition.

First of all, I’m not a lawyer or a tax professional so you should really check with them.

Its not as well known as other deferral strategies, but there are lots of references and lawyers who can provide advice on it.

You did not include anything for CapEx (5% to 10%) depending on the current condition and life expectancy of all major components and appliances.  

If they signed an addendum to bring their own, then tell them you will provide if you can increase the rent and they get their old appliances removed.I am not a lawyer, this is not legal advice.

ask your lawyer if u dont have one or they don't know find a better one.  

You and your partner can keep up with the paperwork part: permits, contracts, inspection requests, inspection changes, invoices, lien releases, insurance certificates, draw requests, accounting, monthly general conditions invoices and payments, etc.6.

If you're OK with a lower price for the condition, then you may want to save your cash.