If it goes to court, technically the one who moved out broke the lease and is also responsible.

If you maintain solid financial statements, you will be able to sell that property in the future a lot higher because you technically increased its value (regardless of the market) because of the increase of its Net Operating Income.  

He technically purchased it no-money-down, but be sure to factor in the cost of a secondary loan when determining how viable the investment is.  

If it's a high-touch (i.e. people wash the cars) you have staffing, compliance, payroll, etc. to deal with and you have no idea how "creative" employees are when it comes to theft.

However, this new buyer is threatening to get attorneys involved because he seems to think that this is not a encroachment granted in perpetuity.I think my folks are in the clear on this due to the nature of the language in the agreement but the last thing I want to have happen is get lawyers involved and have them have to pay to move the tank since, technically speaking, they are in the wrong.Don't have any experience/advice in this matter?

And I'm right next door to Euclid, but technically still in the city of Cleveland.

I am a single guy with no kids and technically my current rent situation isn't that much ($300.00).

There is a technically the possibility of a DOS clause where the bank could call the note due, but that wouldn't make sense and they don't typically do that.  

I put these in a "General/Admin/Other" Class in QuickBooks.If the property not purchased does not satisfy both the asset class and location requirements, then you technically need to push that expense off into a balance sheet account and wait until you do invest in that asset class/location. 

Here on BP you can do that by adding a picture to your avatar.Understand that beyond understanding the technicalities of rules and regulations, real estate is about market conditions and helping people to get to yes.Get to know your target market like no one else.Develop your ability to empathize what's going through a buyers head and a sellers head and figure out what you as a real estate agent can do to address concerns.Neither of these are limited by your age.Good luck!