Well simply addressing your comment flipping is not about cash flow, and you already pay a 25% tax when you flip its called a capital gains tax 

I don't see a lot of deals that probably do close, simply because the cap rate is too low (i.e., price is too high) so I knock it out pretty early on and it might not even cross my radar.An active agent or broker in the area who's working with clients probably has a better exposure to a lot of deals closing, and thus a lot of cap rates, than an individual investor like me who pre-screens a lot of deals and only does transactions for her/himself.As far as "applying a cap rate", you may already know this but in case someone else reading this in the future doesn't, what I mean is taking the net income (NOI) of the property and dividing it by a (somewhat-arbitarily-chosen, I admit) market cap rate to result in an estimated value.

Is it simply the best to wait and see?

No offense and I've seen worse but dude the decor is god awful.

What I also do, is allow tenants to pay security in installments, and provide in the lease they can get their security back the day they transfer the unit back, so long as they move out the right way that is (default law is 21 days here).I swear to God I am going to start helping tenants chase down slumlords for security deposits.

The ability for a client to simply not pay you is enormous, and (at least in Georgia), it's unbelievably hard for a contractor to get money out of a non-paying customer. 

There is nothing the State Government can do to directly influence appraisers. and thank God for that!

You need to be careful there as some are simply sales pitches but you can probably get an idea of what to look for after trying a few out.

They are responsible for yard upkeep so I’m assuming it’s on them to simply take a shovel and clear the ends out but not sure.

@Ronald Rohde we do not own the RE, we are simply helping the current owner find a buyer (or possibly a new tenant) for the building.