Any sponsor I research will be specializing in less competitive asset classes. 

Is it more intent focused to lease and maintain the asset, or is there a timeframe needed to hold the property before I can trade up again. 

This property is stabilized and producing great cash flow and providing double digit returns.

Of course, shared assets are at risk, but no reason to give the spouses additional risk without need.

When meeting with clients the first order is to discuss (A) their personal assets, (B) break down their current investments portfolio and other business ventures before discussing any (C) future goals.

I don't know what properties are like to maintain or what expectations are for properties back East so that will be up to you figure out, but if you do end up with the property I'm sure you will learn a ton and hopefully get yourself a nice cash flowing asset!  

Hey Scott, as my investment group grows one of our #1 things we will look to delegate is the weekly/monthly asset management

(b) In the event sellers refuse to pay, do we have a chance to prevail judgement  and (c) Is it worth fighting this case given the PSA is for a low 7 digit price?

I learned my lesson on that one.. you really need a deep dig into your asbestos rules.. nothing says you just don't leave it in place if you don't touch it.. its when you go to remove it thats an issue.but these are what your looking at with distressed assets and you just have to pay accordingly.. no old fixer is going to be just lip stick other wise it would not be value add..  

As @Mike D'Arrigo mentioned earlier, A-Class assets are typically dominated by home buyers and will rarely have rent ratios that make sense for cash flow.