@Theodore Rivera, Don't know if Partner 2 knows or not but Partner 2 can actually perform a tax deferred exchange on the sale of his TIC interest in the property. 

@Brian Isleib, if you're planning on using the sales proceeds to purchase new investment real estate than you definitely want to explore a 1031 exchange which will allow you to defer payment of the tax normally associated with the gain and depreciation recapture an instead use that deferred tax to purchase new investment real estate.

Try looking outside your immediate subdivision to similar neighborhoods to find homes with deferred maintenance and use those as comparables.

(Yes, there are tweaks for quality and obsolescence and deferred maintenance,  and some for location, but generally location describes your market and its subsets... and yes, you need to understand a market's traditional Cap rate to know what's up and what's down... )   But for general purposes,  I'll repeat it and suggest you file this somewhere in your matters:   The NOI Describes the property; the Rate describes the market.  

Pinnacle stated that they refer their evictions to an attorney, or defer to an attorney of my choosing. 

Contractors who have worked in the park will help to see what you need to do in terms of deferred maintenance.

Want to capture the capital gain on your property and defer it?

If not, what specific language do you use in your lease to defer the liability?

That said, what if I did 1031 on my properties (about 250K) on a B+/- quad that would use my equity to upscale (defer taxes), use it as my residence for tax purposes, maintain some cash flow and then refi if another deal came along?

Some deferred yard maintenance, mostly some shrubs/bushes that need to either come out or be trimmed back (there's a large pine slowly swallowing a playset in the backyard).