My background is engineering working for a major oil company, and I'm currently based in Beaumont, TX.

I also have a commercial pilots license with instrument and multi-engine ratings.

Here is item 3 mentioned above1.Delivery of Property Information Items: Within 7 days after the effective date, Seller will deliver to the Buyer:a)copies of all current tenant applications and leases pertaining to the Property certified to be true and correct, including any modifications, supplements, or amendments to the leases (applications, leases, modifications, supplements and/or amendments to be made available to Buyer during regular business hours at the Property);b)current rent roll (showing lease rent, delinquencies, lease expiration and security deposits paid), certified by Seller to be true and correct;c)most recent 3 months bank deposits;d)a copy of Seller's income and expense statement for the Property for the last 36 months immediately preceding the effective date;e)copies of the Evidence of Insurance for all policies since the last renewal, including invoices, current policy, and copies of the last three years loss run from the insurance carriers for fire, hazard, liability and any other insurance policy that relates to the property;f)copies of all previous surveys, environmental assessments, geotechnical reports, studies, architectural, engineering feasibility studies, “as builts”, plats, or analyses made on or relating to the Property, including maps, plans and drawings;g)real and personal property tax statements and any appraisal notices for the Property for the previous 2 calendar years;h)copies of current capacity letters, and current utility bills from the property's water, sewer, gas electric, trash, phone and cable service providers for the past two years, or permission to access these accounts;i)copy of existing Property Management Agreement; a)payroll detail – 2012W-2s, YTD monthly, and most recent Y-T-D paystubs;b)a current inventory of all personal property to be conveyed under this contract and copies of any leases for such personal property;c)copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing;d)copies of all current service, and maintenance, agreements relating to the ownership and operation of the Property; including but not limited to: Laundry Lease, Cable/Satellite, Electric, Phones, Leasing, Commission, Advertising or other;e)copies of all current warranties and guaranties relating to all or part of the Property;f)current and past capital expenditures for the past three years;g)copies of all work orders for repairs incurred by Seller for the Property in the 24 months immediately preceding the Adjusted Effective Date; (work orders to be made available to Buyer during regular business hours at the Property)

One other note, it has a wood burning fireplace, which I don't have in other units and can see being a maintenance and possible safety issue.

Im Really Just a Solution Engineer Disguising as a Real Estate Investor

Now is the time to reverse engineer the steps to make that happen.  

I honestly don't even care about much cash flow at this point so long as I don't blow what money I have saved up in a crash-and-burn scenario with our first few properties.

Hopefully, the borrowers won't burn the house down while you try to get it re-performing.

With the guidance of an excellent Electrical Engineer, who happened to be an MBA as well, we created a complicated but thorough spreadsheet model which called for an over-sizing of the solar panels versus the inverter size.

@Annie Li We bought it in the end of  2011, sold it in 2014, and i dont like to be negative, but this area will never recover, there is no chance for this area near Gary to recover, have you driven just down the block onto Broadway, you wont even have to go 3 blocks to see burned down, boarded and destroyed commercial real estate, tons of burn homes.