In addition, beginning the process shows the tenant that you are a professional and intend to protect your investment, which may make them rethink trying to take advantage of you.

I guess it's possible to buckle down and pay off the loan and work hard and get an extra job and not spend any money, and hope everything works out perfectly with the property and perhaps get super lucky.

So you are looking at spending 26k to close IF you dispute, spend extra time, and money on new appraisal AND get that new higher appraisal.

It seems like I have no protection if they don’t….Looking for responses from people with actual experience, not just opinions on something they have never dealt with...

To get this back to where it should be, you'll be spending way more money than you anticipate, because it will mean renovating all the walls.My advice is to dig into the walls and see how deep the baseboard goes, then pull a few.

The current owner says he cash flows 1500 a month some might be better than 300 a month some might be less just giving you guys averages and rounding my numbers up slightly for protection.  

Asset Protection will help protect you and your investment / legacy. 

I wouldn't necessarily say you are way more involved with apartments, but with more units/tenants you are going to be spending more time on it.

LLCs are not as good at asset protection as many pushing them would suggest, however i don't know any attorneys that own real estate in their own name.

I am told Adult Protective Services can help in some way?