I understand that ultimately, the responsibility falls with me...but I also wanted to reach out and see if anyone has a perspective or strategic approach to rectifying this manner. 1) Connect pipe (50ft) - not overly concerned with this aspect. 2) Clean up and have restoration company undo the damage - mildly concerned and expect a few thousand dollars fee (who pays?)

I find that in SFH rentals, the tenants take better care of the unit and ultimately stay longer.

Maybe talking to them, about what they think of the price point, about the neighborhood etc could give you some valuable information that would ultimately better drive your decision!

Thanks in advance,--Adam Adam, I wrote The Ultimate Guide to Grading Cleveland Neighborhoods for guys just like you.

If you start really early in your career, then you have less saved up so it could take longer to get where you ultimately want but you have the time to do it. 

But ultimately I can restart discussions and see if we could get seller to pay for boundary adjustment, but worst case is I could try to get insured title on the house and new parcel, then work on the boundary over time with the neighbor still having a very marketable and cashflowing property.

However you should note that like all things in life you'll get what you pay for.I recommend checking out The Ultimate Guide to Grading Cleveland Neighborhoods to give yourself a complete look at the different neighborhoods in the Cleveland market.

The tenant attorney and tenant rep broker of course will try to do the opposite of what the landlord wants in ultimate guaranty security of lease, annual rental increases, and long term primary lease term.If you left it up to a tenant they would try 3 year primary lease, blocked rent increases so not annual, sales clause if not at certain level they can terminate or reduce rent, co-tenant anchor clauses, crazy broad restrictive uses for other units in the center, no personal guarantee, no disclosure of personal or business financials per the lease, set up a single entity remote LLC so they can bankrupt it for one location if things go bad, put a ROFR clause in the lease, incapacity clause where if tenant gets sick or hurt they can cancel lease, construction road widening clause where tenant can pay reduced rent while access is reduced to the center, unreasonable CAM cap clauses, etc.I can go on and on with the crap I have seen in leases for my clients buying retail centers where I am the broker.

I'm really curious how this process works (or the pitfalls) if you buy a building with a bridge loan or you pay all cash with the ultimate plan being to refinance into agency debt.

Other significant update items are outside the building...paving / curb appeal.If I can position a Master Lease (with ultimate purchase price (so really Master Lease / Option),  the flexibility that provides could allow me to pay a little more; however, even without putting initial money up for the purchase I will be investing rehab / re-position monies.So my question:  is this fairly standard with a Master Lease?