Looking for advice on what things to add to our regular commercial lease.

That 500/m loss does not include reassessed property taxes, vacancy, property management, maintenance and reserves  - so it will be an even bigger loss.A tax professional can assist you with your tax strategy and then you can work from there to identify the strategy to deploy. 

This property has a ton of deferred maintenance but I'm purchasing it well below market value and I have a decent budget. 

Obviously you'll want to budget for vacancy, Capex, maintenance, PM, etc....but I'm curious if those other strategies work to help even things out.

  (2) Variable cost: platform fees from Airbnb and VRBO, lodging/hotel/transit or whatever pass-through tax your local AHJ requires, cleaning fee, cost of replacement for consumables, repair and maintenance, etc. 

The operational simplicity (minimal staff, low maintenance) creates impressive cash flow protection.- Medical office properties with long-term leases to healthcare systems offer another layer of protection.

The operational simplicity (minimal staff, low maintenance) creates impressive cash flow protection.- Medical office properties with long-term leases to healthcare systems offer another layer of protection.

If not cleaned well, dried, and oiled regularly, cast iron can rust.

if its an investmenet property - there are not many ( if any)  lenders doing regular or DSCR  loans on rental MH homes 

Now, I don’t hesitate—if a PM stops communicating, delays rent, or mishandles maintenance, I fire fast and move on.If you’re just starting out, focus on controlling what you can—good deals, good management, and keeping cash flow strong.