If you knew the roof may have needed work prior to the inspection it may be best to try to negotiate for part or half of the cost.

For example, if the accessed value is $400K (a real possibility if it has been owed since the 1970s), the prop taxes will be less than $5K/year (prop tax is safe to assume no more than 1.25% of accessed value (there may be somewhere in the state that is higher than this but this is safe percent to use)).So you may want to determine the property tax due before worrying too much on if they have to be paid prior to assets being dispersed as there will be numerous other bills that will need to be paid prior to the assets being dispersed (utilities, gardeners, etc.).Good luck

At this point, regardless of your other income, all prior and current year losses for that property are unlocked.6. 

What is presumably a good method to gauge the amount of equity in a deal prior to purchase and rehab?

There is no such thing as a perfect building, so don't expect the seller to fix everything prior to the sale.

These tenants have occupied both units prior to this amendment (effective 2011) and the amendment states that if the tenant wasn't notified 60 days from the amendment taking effect it does not apply. 

Another big step to take prior to buying properties is ensuring you have a reserve account established.   

Not to mention a couple of $4.00 coffees a day and no clue what brown bagging is.I'd bet that most college grads spent more time learning the ins and outs of student loans than budgeting and financial planning.  

The TK Provider should own the property first, do all the renovations in-house, place a tenant PRIOR to closing, and then stay on as the property manager after closing.

Closing with a real estate attorney that we have done deals with prior.