Absolute NNN means the tenant pays all of the costs DIRECTLY (they are not even reimbursable expenses).3.

It doesn't seem like the charges have anything to do with rent - they are reimbursement for damages.  

I think that's riskier than what you'll save in taxes, if anything.If they're already in a lease and can get it extended, maybe you could offer to reimburse them (at closing only) for the extra 2 months rent in their current place.

Is this normal or not.This terminology is what is worries me because whatever I spend for repair and is completed I expect reimbursement.  

If the landlord doesn't fix in a reasonable time determined by the court then they could tell the landlord they have to reimburse you for the expenses.If it was an immediate emergency and the landlord was not responding then a judge might deem you getting someone right away necessary because it couldn't wait for a slow response.If the landlord is not given proper notice in writing and a reasonable time to correct the non-emergency problems then likely you will not be reimbursed those costs by the court.

We were throwing some ideas around and came up with this scenario:Purchase price: $50,000 + $20,000 in rehab costs = $70,000 Total Investment$70,000 Investment + 20% Interest = $84,000 Owed back to private lenderNow, would we be able to pull out a traditional home loan for this property, use that money to re-imburse the private lender and then make regular payments to the bank?

That means, you get reimbursed for work completed (reimbursed if you come out of pocket, but you should be able to avoid this problem). 

Or is the contractor going to pay for the materials and then you reimburse him? 

The house is as is for a reason - the bank isn't making repairs and they won't be reimbursing you for repairs you make whether you walk away from the deal or not.

Inflation is about 2 to 3 % a year so value of the dollar you are keeping pace on about a breakeven scale.Most retail is base rent per sq ft with NNN cam tenant re-imbursement.