Thus, I am interested in suburban space near major cities, not the downtown inventory that is trading for pennies on the dollar, but often involve massive office complexes that will have huge holding costs until they get leased up. 

If a major expense comes about (i.e. roofing repair, hvac, etc) we would split that as well. 

Capex is usually lower, around 2-5%, since major replacements like roofs or HVAC systems are far off.

to me I view an inspection contingency as you do it and if something is wrong you present it to the seller and say "hey fix this, reduce the price OR if it was major and really bad just walk away".If no inspection was done, then its unethical but reality is its not worth a seller to sue over it.

However keep in mind you want to showcase your property’s strength so if the land or aerial view is a major selling point, consider leading with the overhead shot. 

it really is a major pain in the butt.....at least that's my experience.  

And i have seen other do it like i said in San Antonio only to have that operator get in major trouble with the state and the investors get wiped out.. there is more than just YOU buying a home without an investor putting up the dollars to buy it.

It is very close to two different hospitals, and a mile or so to downtown of a major metropolitan city.

That is not anything we have done along these lines, and have not had any major problems. 

The family dynamic isn't a major concern.