@Brook Rieman,He's a sex offender-- they are out there, it sounds like a low income area, so that's where they normally go.   

I received my license back in 2005 when Real Estate agents would refuse to submit the “low ball” offers Mike and I wanted to make.

I would be using the existing structure for storage for an existing business (which could pay rent to my RE entity), and hopefully building on the land in the long run once the neighborhood becomes more attractive.

@Nick Diecidue Your budget is way, way too low. 

I have purchased a couple of properties and am running low on cash.

On to plan "B".As a thought, if your stoop is the size and location you want, but just in bad shape, perhaps having a contractor skim coat it is a low cost solution.

My mentality has always been, rent low enough where you don’t lose too much but have the tenants long term. 2) how do I approach offering a price increase?

I too thought about whether he's hiding something but I spoke to the current property manager and he says it's always been a MF property so the chance of underground tanks or soil contamination is quite low, isn't it? 

Kitchen cabinets, drawers, bathroom storage.

Usually, the only difference is that there credit score is too low and they dont have the full down payment.