The modern trend, from what I have read, would be to use an L.L.C. rather than a Partnership. 

Since it has been updated, it will be a great, modern rental.  

I know of a 131 space park in Indiana.

From speaking to others in town I do see an interest in / need  for 10,,000 - 12,000  sq ft units for industrial / warehouse sites for sale and for lease . almost like Industrial Mini Storeage space .The Bldg has 6 shipping / receiving Dock Doors along with a 14 ft wide drive up ramp that door is also 14 ft tall so you could literally drive a tractor trailer inside if need be My thinking !

I purchased a home for $890,000 and the assessed value for the purposes of property taxes was $580,000 for example.Many buy and hold real estate investors in the commercial space with big portfolios even hire attorneys on commission / retainer to get the assessed value of their building lowered as much as possible to save on property taxes. 

Much of our modern mortgage concept traces back to the middle ages right after the Roman Empire collapsed.  

It just needs some improving to make it look at little more modern.  

I have been in that space for 3 years.

and patch on the ceiling (HVAC Re-route)- Master Bathroom( plumbing - shower stall not properly installed and leak going down to crawl space, cabinet not secured to the wall, GFCI not grounded, faucet aerator leaking)- Kitchen (damaged vinyl, exhaust not working, very dated kitchen but I think I can salvaged the cabinets and just replace the tile countertops)- Ceiling fans are not operable and missing HVAC registers.- Garage (moisture stains, wall damaged, laundry hose bib leaking), partially converted to a room.

Themed rooms?