Cash for keys is common, and frequently the part that keeps tenants from moving forward is not having an affordable place to go to.

I am creating an llc with a couple friends as we go into this new endeavor.

I had an investor that was willing to put it under contract and then it nearly fell out when he asked for too much from the business owner.

Even though the price was shocking to me I do not have an issue with paying for this if needed.

If you're planning to use an FHA loan or another owner-occupant loan, there are typically rules about tenant occupancy.

@Justin Boyd just saw the location on this, I'm somewhat familiar with that market, we do quite a few retail deals in CLE and the surrounding areas, I'd be happy to give you an opinion on the site if its helpful.  

It is in fact an improvement. 

The lender is pushing you to do this to get an FHA loan.

It's normally not hard to win an eviction. 

He may be actually speaking about a "Wrap".Find out if actual ownership converts to youMake sure you have a title reportYou may want to pay for an appraisal and an inspectionMake sure you use an escrow company or an attorney to do the transaction Hi Ken!