On top of that there was an $8,000 tax credit, as an incentive since people weren’t buying.  

It’s a tax office, so I suspect they might be waiting to see how their business performs and the impact of technology before deciding.Thanks in advance for any advice or insights you can offer!

You'll be able to defer a bunch of tax with this purchase. 

However, a recent delay in its opening, now pushed to 2025 due to supply chain challenges and other logistical issues, has created a mixed landscape for real estate investors.Real Estate Growth: The Big PictureWhen fully operational, BlueOval City is projected to employ about 6,000 people.

Also make sure to consider all the aspects you can including the tax differences. 

When I brought up that withholding proper documentation could be a breach of contract, the response I received was that I could terminate the agreement, but I wouldn’t get my escrow or due diligence money back.  

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

I would reinvest in a another property and use a 1031 exchange to detour taxes.   

And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.

Do your due diligence, understand the area, and make sure your numbers work before jumping in.