If you want a restaurant in there, typically, as the landlord, you are footing the hood system, walk-in cooler/freezer, fire suppression and overall fixture work for the tenant.  

@Adam Rasmussen I agree ... the house will be used as college rental... it’s in prime location literally walking distance to one The College of New Jersey... right now the houses in are rent for 2500-3000 a month...

Require renters insurance naming you as additional insured at the time of walk-thru, require valid auto insurance for all vehicles to be garaged on your property, video all walk-thrus, require only the paying adult or adults to be named on the lease, do not require all adults living in the premises to be on the lease.

@Mary Jay  even if she signed a two year lease when she walked how would you collect?   

It is not a cake walk and the less you have the smarter and harder you have to be and work.

Not the smartest move by the seller, but it cuts down on buyer competition, which is in your favor. include something like this: Offer is contingent on buyer walk through of the entire property within 3 days of acceptance to buyers satisfaction, otherwise buyer may declare this offer is null and void via written notice within 5 days after AO. 

My biggest concerns are 1) the property is not exactly walking distance to the beach, and 2) the area looks a little crummy in spots with some trailers.

I lived in neighboring town of Poughkeepsie called Town of Lloyd - Highland, NY 12528 for more than 19 years its a nice and safe neighborhood with good school district, worlds largest walk-way over Hudson river, lots of trails, golf, biking, scenic drives with good hospitals in 5 miles radius namely: Nuvance Health Vassar Brothers Medical Center, MidHudson Regional Hospital, Saint Francis Medical, Health Quest Home Care and others...The latest addition which is getting constructed is The Village in Highland, NY - Assisted living facility.

If you still want to do that, options I offer, 1) if you want to sell the home FSBO, I can put it in the MLS for a low few, 2) Realtor Walk-Away Full-Service Option.

Account Closed  People rent so they have the freedom to walk away and they do.