Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.

I have a pretty large balance sitting in an account with her which included balances From not getting paid the last two months of rental income and  tenant deposits and maintenance reserve funds. 

So, yeah - they're gonna want out ASAP.Lotta folks will be squeamish about such renters, but my advice is to do your due diligence and see if it's worth moving past your own reservations and just being a landlord.

An occupied store front in a small town will factor into your current NOI, but if they go vacant in less than a year, you could be looking at a couple years of vacancy in a small town.And lastly, with limited appreciation potential, a 6 cap sounds low.  

Keep money in reserves if there is issues with property 1 or 2. 

These would be the tenants that are storing their junk in publicly visible areas, consistent slow payers, or potentially even the tenants that will never be able to afford your proforma rents.  

This is called having a cash reserve for the business.

This is evident from price increases every time you go to the store.

But since we put plans in place for maintenance reserves, we have those funds set aside and while still painful, at least it is not financially impossible for me to cover something like that.  

I would have serious reservations moving forward with this person to complete your project.