It's a mix between B/A class. 

If you invested in Phoenix or Tucson, you could drive over and deal with it.At this point, I would  have an attorney in the county the properties are in send a demand letter.

Ask your attorney if It may be worth sending them a letter indicating they should open a claim with their Professional Liability Insurance carrier. 

Of course, this is not a good mix. 

But if you use a letter of Intent or a contract with plenty of exits for your purchase this can be a huge benefit for you. 

You should still instruct title company to run a title and lien search.Also did you receive a payoff letter to see how much is still owed?

But I doubt you're going to get much info about the tenant outside their lease agreement, voucher mix, and payment history.

For those familiar with this market; what is bringing the guests (tourism, professional, mix of both)? 

Adjust for any old/new contracts you're removing or addingG&A (Advertising, Office, Software, Etc: T12 adjusted for any old/new contracts you're removing or addingReserves: $250-$350/unit multifamily; $0.15/sqft commercial; $1.00/sqft commerical TI'sTotal Expenses: Sum of all above expensesNET OPERATING INCOME = Project EGI - Total ExpensesProceed to look at multifamily / mixed use sale comps and make judgement call based on (i) going in / exit cap rate assumptions, (ii) $/unit, (iii) $/sqft, (iv) etc.

Clear neighborhoods/areas for appreciation, cashflow, or mix both