Sellers who purchased homes during the market peak may find themselves in difficult positions, as they could potentially have to sell at a loss or contribute additional funds to close a deal.4.

I completed a 1031 exchange two years ago, but found the strict time limits made it difficult to find a good deal.

5) Internal vs External (In-house service teams vs Outsourcing: AM, PM, IR, Back office, Operations)6) How did you handle difficult situations in business?

Due to the size of these stores it makes it very difficult to rent these locations and in most centers you have to divide the space which requires significant modifications to hvac, electrical, plumbing and storefronts.While this doesn’t answer the questions gives things to consider if buying one.

It's easy to say you'll raise rents to market rate but pulling that off can be difficult in softer markets with supply/demand dynamics without causing temporary vacancies, which leads to new TI's and other lease incentives to refill the space.I'm sure you have an investment strategy for the replacement property, and that should include which markets you are looking to reinvest in.

Each unit in teh building has their own master water shutoff valve, so I can't imagine it will be that difficult to get some hardware + automated billing system through someone.

It is difficult because you have to replace them at new value. 

As a newbie back then, I couldn’t understand why it was so difficult as a hands off investor and why every single PM either bailed on me or stole from me.

Think of it this way: if we were to screen tenants on criminal background, credit, eviction history, landlord references, and income (3X that of rent and employee verified), even with 25 tenant applications, it's difficult to find a reliable tenant to match all those criteria.

Don't take care of them and you will find it difficult to keep occupied.