@Jason Moraff and I are in the rehab phase of a BRRRR. 

Recent price reduction of $120K and we got it under contract almost immediately after it was listed at the new lower price.We have done local rent surveys and we think we are competitive.We're still in the Due Diligence phase right now, and are getting: Appraisal, environmental study, HUD statement, utility details, insurance, financing.Anything that you think we should be considering here, either about this deal or about getting into an office building in general?

I sense that you're still in the negotiation phase. 

We've been in touch with a lawyer already and we're taking our time in the research phase.

I don't have a ton of experience as we are really just in the beginning phases but there's definitely potential here.

As you are asking the question, I would guess that you know that a leaking oil tank can / will open up world of issues; Phase 1, Phase 2, remediation, retesting and who knows what else.You could purchase it subject to all remediation done by the seller and certification of cleanup by the fire dept / county / state (who ever has juristriction on this).Alternativley, you could be willing to invest in the testing / consultants necessary to scope the problem (with no guarrantee that they are 100% correct) and then make offer taking the results into account.Until you know the scope of the problem, you can not know the cost to fix it  so unless you have done this before and have deep pockets, making any offer is very high risk.Oren

Therefore, I plan to phase-in smart locks for all my units.

From your comments I understand you're in the education and research phase.

Is this due to the current market phase the cities you are investing in are at?

I'm not sure what your financing strategy is for your early phases, but it will save you time and money in the long run if you're familiar with all your options now.