I requested that repairs be made before closing that would be a long term fix to the foundation issues.At first, the seller tried to pull a fast one on me and push through minor "band-aid" level repairs instead of legitimate long term fixes while feigning ignorance.

Commercial industrial spaces in my city go for about 600k (3000sqft bad/non-central neighborhood with lower ceilings) to 1.6million (5000sqft decent central location, high ceilings). 

I want to actively work towards my deal as fast as possible but i'm unsure if I'll exactly be able to qualify for a conventional loan with my lower score and lack of a full time job.

Keeping the clauses high level and generic allows you to get ahead of any crap your tenants can think up.

Take a level with you and see if the door is truly bowed.  

  $40k is a great start, but hard to put a portion of it into work on a commercial level. 

I’ve thought about RE agent, or trying to find an entry level job in mortgage lending, or even workIng for someone doing rehabs and/or buy & hold would be awesome as this is what I aim to do as an investor myself.

You will need some level of training before diving in, and it usually takes a few months of preparing before you are ready to actually buy something.

Lower rent. 

If the assessment is lower than the principle amount due then the lien gets reduced to that amount.The assessment amount is due within 60 days.