Its proximity to campus, turnkey condition, and rental history make it particularly appealing to investors seeking high cash flow and low vacancy risks.

Cities and states have enforced this policy for well over 50 years and it always stood up in court.

If he's doing work in Pennsylvania and not complying with that statute, you may want to reach out to the PA Attorney General as well.

A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.

Tenant had some risk items such as extension cord going from outside to inside which invited an inspection.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

some hype but also a lot of good information.also remember: seller finance of a paid off asset, lower risk. 

I would want too as well.

This will reduce your risk and cash invested and if something goes wrong you wont be bled dry with never ending repairs.

It will help mitigate some of the risks that you are hesitant about.