Make sure a competent LO with a NMLS number runs the numbers from you.

You can't pull money out if there is no equity.

When that happens, it becomes a race to the bottom.I'm not saying don't invest there, but be extra cautious and maybe look for something that makes it unique.

My suggestion would be to cap your utilities at a certain amount and have Tenants pay anything over that amount.That will help you manage your expenses, and also allow Tenants to gage their usage each month, and make adjustments if they don't want to go over the allotted amount.As far as collection, provide the bill showing any overages and just have them pay for it along with their rent. 

Make sure that your tax accountant understands this. 

We would be fine extending a month+ to make it 90 days notice.  

I recommend having a contractor walk through the property before submitting your offer, or you could make your offer contingent on a contractor walkthrough.

I spoke to them about 1.5 months ago and since then they have been non-responsive that makes them look like not the real deal and I'm wondering if they are still around and active and good?

If they’re underfunded, you could get hit with special assessments.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space?

Private money and personal funds.