Sellers aren't going to want to go back to the open market, where they may get less money and still have carrying costs.I would ask for the health and safety repairs and explain that it is just out of your budget.

So you have a margin of safety to learn.For a fixer-upper apartment complex, you need a team that is battle tested.

Basically, buy properties with a large "margin of safety" as Ben Graham / Warren Buffet would say.  

My contractor built these Jefferson stairs to provide more of a landing up top, it was just a single step before, but I have concerns regarding the safety for a tenant.  

Yes, we already do this at least every 6 months and this is how we discover how well our rentals are being taken care of - as well as checking for safety and maintenance issues.

You provide the deal, management of the rehab, and safety of their investment.I don't know your situation enough to know what's best for you. 

I would say never, as long as you lease reflects this.This is a safety issue whether you have it in the lease.I'd get the police or fire Marshall to accompany you if you think there will be resistance.Post the notice, take a picture of it on the door.If you are concerned about them burning down the house call the local magistrate and code enforcement and see what guidance they give you.

If you'd own and rent such a condo in Playa del Carmen for $81 a night, it's pretty much a given that you'll have 100% occupancy (being well-below the market price with a high margin of safety).

@Gulliver R.what others have said: the booking platforms are selling you on "faux safety" no more or less safe than direct booking with a deposit you control and refund as needed.

A balance of both...Appreciation is where you build wealth AND what allowed me to quit my job - NOT cash flow.Cash flow is your safety net.