Forget the percentages and focus on the $$$$$$. 

Dont forget if this is a co op type purchase/investment you may have to pass a board interview even prior to being considered as a prospective buyer.you would most likely need better than average credit or buying cash, shared loans are provided by less lenders.

We will strip and gut completely, change windows, doors, all systems new, and reconfigure with a  4-5 month completion time on all construction start to finish.

The frames on the windows are wood.

Appears the problem in around the area where the gutter is curved going around the concave turret looking windows interior leak  2nd flloor ceilingoutside view of 2nf/ 3rd floor gutter system some previous treatment some treatmentclose up another viewright now looking for any ideas. 

I will say that 90% of the material you "learn", you will forget and isn't often used in the real world. 

On the the other hand, these properties are D class. 2/1 brick duplexes  with gas wall heaters and window units.

The lease most likely won't have a provision for you to unilaterally terminate the lease with 30 day notice, so forget about that. 

Also - forget about assigning a short sale - not gonna happen.

It seems the window to sell is very small.