This is a big job - not necessarily a complicated job, but probably bigger of an undertaking than you think.You don't want to paint darker because darker paint will get hotter, and will then either warp the vinyl (which I've seen all over the place, especially in AL) or cause the paint to flake off - and that's where an inspector or an appraiser will get you. 

I would end up paying more in child care, and I would never see my kids.

My question is: Does being registered as a partnership instead of an LLC will make any difference when it comes to tax/legal matters?

You have to make the bet that you might do well, break even, or have a big loss.If a buyer has limited funds and net worth they do not need to get sucked in by the potential of high cash flow and landing nice tenants that pay on time and take care of the place with low income type properties.Think of this.Someone buys a piece of junk and hopes the building doesn't fall apart and the tenant pays on time so they can cash flow 200 to 300 a month based on current market rents for that product type.So 2,400 to 3,600 a year if everything goes perfectly with no surprises.

You would have to appraise the property and transfer the title out of an IRA to your own name.

I was wondering if anyone would have experience with similar moldy conditions that may have some insight into the potential costs to take care of the mold concerns and whether it is worth pursuing the property given its current condition.

There may also be some Medi Care or other debt.

Talk to Brian or Steve at the 4th Street branch in downtown Cincy, they'll take care of you.

I'm sure you would have to be careful how the contract was written to protect both parties.

It's a rental, who cares.