The LLC is a steep price to pay here in California for asset protection.

Sure, I've had to replace a roof and I've redone floors twice.

One I know is days on the market but I would like to know a strategy more in terms of the work needing to be done on the property.What is the typical rehab budget for a full gut versus a fixer-upper that needs some updating such as for the kitchen, bathroom, new carpet, roof, and/or driveway for example?

The property appears to have been recently renovated, with a new roof installed in 2020, and the exterior was recently painted according to Google Street View.

How much term is left, strength of the tenant, rent escalators, rent/sq ft, etc.You also want to make sure you have a good understanding of the roof, parking lot, and mechanicals because in a traditional NNN lease, the landlord is reponsible for these items..and they can get expensive.

About $250 to $300 per square foot, because it is small which drives the per sqft cost up absorbing kitchen, bathroom, plumbing, electrical, utilities, basement, roof and impact fees into a small footprint.

Does it have enough reserves, any special assessments on the horizon (could be extra thousands in additional fees), when is the next big expense coming (like roof change, elevator replacement, etc), the rent cap and what rents options are available.

roof looks solid, saw the newer HVAC compressor, and the landscaping seems like it won't be a huge burden.  

A building is expected to have a functional roof for example and it will not give you value vs other properties who also have a functional roof. 

Giving more work for everyone.At the moment, I don't want to make another offer on the property, looks like the sellers won't negotiate on anything including the roof that needs to be changed.