I would investigate what the motives are for such long contingencies.

So the next bit of homework is for you to investigate the software that is available to help you manage. 

It would be worth investigating.

Is there a simple way to hire a firm that can check the financial health of a company that wants to sale their building and do a leaseback? My obvious worry would be to purchase the commercial property with a long lea...

You’re taking the right steps investigating your options and getting your license...let me know if you’d like to chat about lessons learned transitioning from one career into real estate!

I'd recommend he investigate rolling 401k funds into a self-directed IRA.

A lot of buyers want to cancel the transaction as soon as they see something wrong bc they believe there will be no room for negotiations.... and the only way to gain leverage in negotiations is by moving forward with investigations and showing the seller and seller's agent your findings and then negotiating a price reduction and or RR (request for repair). 

.), we've started investigating select second- and even third-tier cities looking for strong rental markets that also offer growth.Lubbock, Amarillo, and Waco are just three sub-markets that we are carefully considering.

The most important question you can ask and investigate/confirm yourself.

If you have even a slight chance of winning the argument, that call from the board will likely put the fear of God in the property manager and he will cut you loose rather than face an investigation from the state.