., the cost of a good and sufficient fix would likely be comparable to a whole new staircase. 

The 100+yr old properties are not just built better then modern standards, there leagues beyond, like comparing a monster truck too a tonka truck, the difference is that vast. 

Plus 6 months doesn't buy you enough time to complete the purchase.Also, as a side note, the vast majority of for sale by owner listings are overpriced by 10-15-20%.

You’re liability insurance is sufficient.

Even the nicer homes are still vastly under-insulated.....And there are too many people that will never buy a manufactured or mobile home just because of the name and stigma....

If that still is not sufficient look into adding Big *** Fans.

With that said, if you're going for a 3 or 4 unit I would not recommend FHA for your first loan as it has a self sufficiency test where 75% of the rents need to exceed the PITI payment, which is hard to find in our market especially at the current interest rates.

I know there's a vast wealth of knowledge on here and am looking forward to learning all I can before jumping in with a purchase!

That information alone should be sufficient evidence.I do not share my pictures with the tenant before or after, unless they attempt to contest a charge.

The complex has a lot of deferred maintenance that our current HOA dues are not sufficient to handle the maintenance and owners have been adamant about not wanting to increase HOA due.