(about 1/4 the way through both) Im hoping to find some answers in here to my concerns but i haven't quite hit them yet.So I thought I would ask... 

do some or all of the above places i mention give cause for concern?  

I know some of the mechanics are old and will need to be replaced soon, I’m just concerned about a city inspector coming in and making me do costly updates right off the bat, which would cost over $50k easy. 

Keep a collage and send it to the seller and express your concern about the deteriorating condition of the house. title insurance has nothing to do with this. 

Or you are concerned as comingling the personal asset? 

I have discussed HELOC on this property, concerned with potential high payoff when I sell the property after repairs. 

It's good that you're concerned about successfully paying back your uncle.

My concern is that what if the existing shareholders don't want to sell the shares, then, will they become a partner in the deal or just continue owning the shares equivalent to the apt sq ?

A key difference with section 506 investments concerns the products themselves: they are not regulated by the SEC and Investment Company Act of 1940 which governs stocks and mutual funds.  

The owner said he doesn't want to sell them individually but as a package and said it would be a lot of work to get them unified as far as the parcels and such are concerned.