As soon as you pop that can of worms, be prepared to go fishing for existing issues with the property that may need to be brought up to current IBC, Residential may maen proper handrails and accessibility egresses, whereas Commercial may be a bigger pill to swallow going so far as sprinkler and fire suppression systems.

Originally posted by @Sheena Drake:I am unfamiliar with "fire Suppress"? 

Noticed the seller had some significant inefficiencies in his management structure that were suppressing his NOI.

If you are honest upfront with the tenants you might suppress some of that noise since they've been fairly warned.