If you go that route, ensure to use a Qualified Intermediary to handle the sale/purchase otherwise there will be no 1031 exchange. 

Property taxes and insurance costs are best obtained through local county websites or reaching out to insurers directly for quotes specific to the area.Tools like BP Pro and Reventure can be helpful for an overview, but it’s a good idea to validate their data against primary sources to ensure accuracy.

@Matt Smith  I would ensure egress even if it is your brother using it.  

Screening everyone over 18 helps reduce the risk of costly evictions and ensures you’re fully informed about who will be living in your property.Additionally, be mindful of the number of occupants and how it might impact your property.

*Buy (in) the right property/building to ensure compliance.

Definitely something to clarify upfront...If you’re replacing with another restaurant, it should be an easier transition since the setup is already in place.Your biggest risk is vacancy $450K/year is solid, but if you ever need a new tenant,  ensuring the lease rate is sustainable is key! 

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

Start by getting pre-approved for a loan, ensuring your credit score, debt-to-income ratio, and finances meet lender requirements.

Do we go with the electricians recommendation and eat that cost to get the upstairs unit properly heated?

By doing this, you’ll avoid any surprises down the road and ensure the deal still makes sense for you financially.