Your reference to 1245 property took me to the website below which gave me the clarity i needed by saying " Section 1245 property is not land or land improvement, nor its buildings or inherently permanent structures, nor its structural components.

I want to know, if I buy this building, is there a way to get them to re-baseline the rents to come into closer alignment with market?

Let them know your strategy, your goals and what your business plan is to ensure that your business plan aligns with theirs and you can both work towards the same goal.

Thus, is to assist contractors in the elimination of wasted time, and to align the procuring of material set-up on a twice a week basis. 

Split block sealant (about 9 years)Windows and exterior doors (originals)Roof (original)No backsplash in kitchenOver garage deck.Can any of these affect appraisal significantly or do appraisers just stick to basics and essential components that make up the house?

Personally I shoot for 20%+, but if this deal is otherwise aligned to your investing goals it could be a good move.

@Mike Chern, Dave is correct, you could take something like a zero coupon offering DST with as high as 83% leverage to satisfy the debt component.

There is a lot of how to syndicate class's going on now in the US so there are a huge amount of first timers out there.. and I can tell you from experience  that you want to make sure your at least aligned with companies with deep backgrounds in the space.. 

I know plenty of landlords rent to one the next day after the other, but that just doesn't align with my strategy of screening for and obtaining the best possible tenants on the front end, so I can reduce the chance of dealing with a bad tenant on the back-end, which I believe is more costly.The red flags to me are 1) an out of state investor who 2) relies on a property manager.

This means our interests would be more closely aligned, since I am also mostly interested in the cash flow details of a property as well...