Once those are complete, rough plumbing, electrical and mechanicals can be started (rough plumbing should go first, then mechanicals as these are the larger sized items and rough electrical is easier to work around them than vice versa.

I would make sure they are both up-to-date on repairs and mechanicals before investing in a third asset that could have repairs come due all at the same time as your others.

After a transformation, I import information from Stessa (it auto-injects info from banks) into a relational database, run a few queries, and then do a cross-tab query to bring it all together into a report. 

There is zero income on the property right now because the current owners were using it for personal use and/or letting friends and relatives use the storage units and the metal building (for an auto dealership).  

I wish we had this mechanism up here in the NW It would allow many more projects to get built.

The most likely scenario is that you refuse to pay him, or make him an offer he doesn’t accept, and he files a mechanics lien on the property. 

I'm in the Reno, NV area and while it's not a high fire risk in many areas insurance companies are looking very closely at the mechanicals of buildings before insuring properties or before writing a policy.

I think podcasts are a great vetting mechanism.

I've also had pretty decent luck with Auto-Owners.

Interior from mechanicals, windows, etc will be all new.