It feels like I am sitting on what could possibly be a dangerous gold mine if I am not careful as to what to do with these properties.

In fact it seems downright dangerous to me.

These can be very inspiring but also very dangerous and defeating.  

Also there are going to be fewer investors who have paid off units in that price range.

We own many of them, and they are just fine as long as you respect the dangers and plan accordingly.One big tip: make sure to keep a generator in your park office to handle any power outages.

It seems weird that they wouldn't want us to start improving the building right away when it's actually dangerous for the tenants.   

I think it was Austin Powers who said "Danger is my middle name", but in this case I think it might have been the installers "First Name".

@Sarimar Hernandez a hold harmless agreement is more typically used if someone goes into a potentially dangerous property.Your issue is usually covered in the contract with wording such as - Buyer and seller are aware the property is in poor condition and in need of repairs.

That should load you with enough info to be dangerous.

That could be costly and dangerous unless you know EXACTLY what the history of that property has been.