Leasing Alert Property Management based out of Los Angeles County is managing this property.

Never spend the deposit on anything until the tenant is out and the lease is terminated.

Does the lease not limit your payment on the utility? 

Unfortunately as good as TurboTax and other online softwares are, they don't always pick up the most beneficial items with rentals.

There are lots of due diligence items to complete to make sure permissions and titles are in order.  

  $50/sqft for a full interior and functional update, $100/sqft for a full gut down to studs, $150/sqft for newcon .If these numbers make sense I would want to visit the property for a true estimate, where it would be line item work scope development. 

I'm not sure yet if he was on that lease or not.Definitely some red flags here for me.

We only found out that early in the lease because of several maintenance issues shortly after the tenant moved in and we have had to go back and forth with the owner for monies to pay certain invoices.

Lease purchase option for 10-15 years?

If you are interested, you can request to meet with them and/or submit an LOI detailing your offer on price, financing options, terms, and other items related to the purchase.If accepted, request Tax Returns for this business, and have an Accountant(reach out to me if you are looking for help with the Analytics of a business purchase) compare their financials to the Tax Return.