I’m interested in their perspective on what is needed to properly repair the situation.

I’d also ask for some pointer regarding staging and minor repair than could make the apartment stand out from the rest.

If it's finished basement, you have trim and drywalling that needs removed and potentially some framing .....but at 8 inches your wiring and recepatcles should still be ok.Budget for the repairs needed and offer accordingly.

I’m a interNACHI certified inspector, and I’m currently employed with a basement repair company, and understand the risks and cost with those major repairs (currently doing sales).

With 18k out of pocket for repairs because of the loan amount over purchase price & $400 monthly income, that's a 26.7% return. 

Also, saying that you need to get the concrete done anyway and don't have that kind of cash on hand leads me to believe you might want to think about getting some stronger cash reserves or your own lines of financing before proceeding; I've got credit cards with credit limits double that, where I could self-finance those kinds of repairs if necessary, but that's not a big enough hit that I'd have to worry about taking out loans on paid-for houses. 

Repairs $28,500 roughly $34k in ARV $85k Rent $875 Taxes $95 Insurance $75 Termite $50 Repairs $80 Cap.

We have two of everything as a backup like you, extra washers, dryers (gas and electric), stoves (gas and electric), refrigerators, dishwashers, sofa beds, modems, televisions and repair parts for all the previous items.We don't charge a cleaning fee because most of our tenants leave them fairly clean. 

Is there a discrimination concern or a procedure or exception(s) to follow in order operate as such? 

Total repairs of around $150k.