As his health is failing, I am stepping in and taking over.

My area is very expensive and I am currently looking out of state for more affordable, and more landlord friendly, states.

Re-plumbing is something you won't want to wing but you can't hire out what you can't pay to have completed.Sometimes we have to catch-up to the opportunity...repair and build your financial health - and then reward yourself by starting this new business.Just one opinion...you'll get a lot of others to weigh in!

A normal FHA purchase means the property has to meet all health and safety code violations.

Some were only temporarily made to work from home and some are now permanent remote, which drove many to flee expensive markets, cashing out of their high-priced homes, and into more affordable markets flush with their equity cash.The effect of that population shift has been that would-be buyers in the more affordable markets have been squeezed out of any reasonable opportunity to buy. 

You unload this property and avoid the inevitable added losses, or you can keep the property, thinking you have $1500 in it already and can't afford to walk away from it...and just add to it. 

---changes and are no longer dependable or affordable. 

At the moment you can only terminate a rental lease (even month to month leases) for health and safety reasons.  

Not show up, bill excess because they think you can afford it and they have a new girl friend or whatever...

If it was your dream home and you only sold really because of fear from a money/being able to afford it standpoint I would have turned an aspect of it into an airbnb and used that income to pay down the principle to lower your payment.