Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

With that being said, the interest rate is going to be the single biggest determining factor for whether you're barely breaking even, or seeing a decent monthly cash flow.

I think another factor here in determining whether its a good investment is your age and your goals. 

When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

I don't doubt that guys like me and you will succeed over a long enough time frame due to drive, ability to go do it, and determination, but the timeline shifts drastically due to the momentum killing L's we took early in our career.This is why it's hard to compare yourselves to the real estate winners of the past decade. 

I care most about the Internal Rate of Return (helps me determine how long to hold a property), the cash on cash return (helps me decide why this investment vs other options, and it also takes into consideration appreciation of the property!)

I own a commercial unit, and I’m trying to determine a fair rental rate for the space.

You will have to gather more accurate operating costs (vacancy loss, taxes, utilities, insurance, mgmt fees, maintenance, HOA) to best determine potential future performance.

The loan to value that you can go up to will mainly be determined by your age.

I’d recommend confirming the scope of work and checking with the Tennessee Board for Licensing Contractors to determine if a license is needed for your specific project.