On 3, I'd consult with an attorney, perhaps even a securities attorney.

@Sammy WeinsteinThe custodian may be required to withhold some percentage in federal withholding when they make the distribution to you.Ultimately, you will be required to pay the amount when you file your return or extension.However, you should consult with your accountant if you need to make estimated tax payment in the quarter that you take the distribution.

Consult an attorney  

Then get the required consultants (possibly: surveyor, architect, lawyer).

Whether that is getting a company hired on as  consultant, giving some equity to the property management company coming in to turn it around, etc. 

I've already offered a month free rent to get them to leave, because the alternative (hiring asbestos abatement, asbestos consultants and crap) would have been much more than the rent.

It sounds like you should consult an attorney to answer your specific questions regarding your specific situation.  

Think his first consult is free..

We also just had a supposedly reputable doctor who was shut down and arrested for running a pill mill.I think this is the first lawyer I ever saw a post in a forum streaming questionable practices without the standard disclaimer that this is not legal advice and you should consult your attorney, state regulations etc etc.

I would consult with your tax advisor, but it has been my experience that refinancing a property immediately after closing is a viable solution.