Tenants have a 60-day notice period before the lease ends, but the PM has not notified me of that yet. 

I can tell you we spent all of last years earnings rehabbing properties this year, so if you're trying to replace your income make sure you're making a significant amount more than what your actual income is to offset unexpected expenses like a flood, or vacancies for extended periods of time.

Hey Bp Fam, Im looking into accepting the terms of this deal however, Im a little hesitant because  my initial request was to have at least 2 months of build out period without payment as the value I will be adding to the commercial  property will increase the properties value. 

Title issues, seller issues, non-refundable deposits, no inspection period, lending issues, appraisal issues, liens, IRS liens, city liens, no wills, unpaid back taxes, solar liens, and all kinds of other crazy stuff.   

We are in the midst of an exciting period of growth for our property management company.

Lastly, does anyone have any guidance on what to present in an LOI for DD periods/ approval period and extensions.

If you are still in your due diligence period of the contract, you should be able to get out.If a double close can be done legally in your state, you need to talk to other investors in your area to find out who the investor-friendly title co's are and hurry up and get your transactional funding money into escrow.

We held our breath to see if any shenanigans would happen during the contract period but everything went smooth and we closed yesterday!

Do most people wait 1 year for the redemption period before doing anything to the property?

It is recommended to delay any improvement on the property for a one-year period from the date the tax deed is recorded.