@Maxine AttobrahThis is a very broad question to really answer.

Due diligence periods give you a reason to back out of a contract for ANY reason, so that is actually much more of a broad contingency than just an inspection period.  

. :-)As @David Begley mentioned, you'll find some great resources here with broad experience.  

As far as goals (painted with a pretty broad brush)...

Great advise, also because commercial real estate investing is very broad what are some great books to read to get a great foundation overview of commercial real estate opportunities? 

Broad question, help with what part of the process?

kinda broad advise as well as info about the property as well as the work.Going into this blind is going to be costly.What type of property is it?

"Central Florida" is a very loose and broad geographic area.

Obviously, tax planning/estate expenditure will also be driven by how much you wish to leave for heirs.If you do plan to sell, perhaps the time to do it, will be when your engineering income goes to zero to help minimize tax hit (and perhaps that is when you need cash).General retirement wisdom seems to be to keep 1-2 years cash (near cash) buffer of expenses... then you are less likely to have to sell in poor market conditions.I also like the diversity of fairly broad index funds and ETFs (costs can be as low as 0.05%).

@Nick Ruffini, I will help with some broad definitions, given the numbers you provided.