The buyer liked it because they picked up an eight-unit property for almost no money down and with long-term financing on the first.You may have to work through hell and hot water to find a worthy lender.But the concept definitely still exists.  

It has been running as a short term rental and is under water and I can not afford to hold it.Anyone willing to help me figure out options to sell or give up this property so I can start rebuilding my finances?

If you need to replace 2 ACs for $10,000 and they usually last 10 years (they dont make em like they used to), you've got to amortize another $1,000/yr for those in a capex budget....and that's just ACs...think furnaces that can last 15, roof that's got 25-30, 2 water heaters.

Confirm local cold-climate specs and size correctly; add dedicated electric hot water per unit.

If it can be used as a STR it's going to have septic, well water and need Starlink for internet.

As the tenant moved in the first week like 5 things pop up ( leaks/ Water heater not working and several other small things) the total is going to be about 800$ i found a local guy to repair them but his labor plus trip charges and parts are racking up, and hes cutting us a deal because his per trip charge is $125 Range. 

There should definitely be a 10% minimum downpayment if we want to keep people above water.  

There’s no electricity or running water at this time.Could someone please advise me on the proper process for taking possession of the property in Virginia?

Not sure if you can put in a alarm for water overflow or if there are safegaurds against this. 

Some old buildings have old floor drains with p-traps and if there is no water in it the sewer gas could come in and make it's way to the vents.