I’ve only used a catch-up once, in a blind-pool development fund where there was a straight profit split but I built in a pref with a catch-up just to give the investors a safety net if the fund under-performs.  

You have to pass basic habitability and safety issues.  

I would not mind having them sign a new lease with me, but with the knowledge of all the safety issues I can’t have them sign the lease with good conscience.

You need to be consistent and patient.

Chicago title did a solid job with title transfer, and made me aware of various aspects to title ownershipGreg Brenner Reality, patient but skillful Realtor.

You will need the architect to do a life safety code review of the building because this is mixed use. 

Additionally, I had to pay for a minor out-patient surgery this last year.

Some states have laws that even say 2 per bedroom plus 1 maximum, to limit for safety reasons.

However, mitigate any safety & habitability issues that you can.

Some stuff should just be grandfathered if it's not a safety issue.