Any insights would be greatly appreciated.

@Russell Brazil is an agent in the area and may provide insight as well.

Anyone have any insight that has dealt with this?

Thanks in advanced for any insight or advice. 

Maybe they'll leave it as is to keep it as an affordable rental for someone that's willing to rent something that has issues in exchange for less rent. 

I see you’re an accountant yourself and in New York, would like to gain your insight

Im a single person...I have never 1031 exchanged anything before, so not sure if id have to do this to buy another without owing a ton of taxes or could i sell it and just be safe of paying capital gains with the sale being under the 250k for single limit?

What a Broker is in Wisconsin: (2)“Broker" means any person not excluded by sub. (3), who does any of the following:(a) For another person, and for commission, money, or other thing of value, negotiates or offers or attempts to negotiate, whether directly or indirectly, a sale, exchange, purchase, or rental of, or the granting or acceptance of an option to sell, exchange, purchase, or rent, an interest or estate in real estate, a time share, or a business or its goodwill, inventory, or fixtures, whether or not the business includes real property.

The 401K, through Fidelity, has had nothing contributed by neither me nor my employer since we switched over to Vanguard In January of this year.But these insights are great!

I also agree with @Greg Scott, talking to your lawyer will give you a better insight and direction to go.