My tenant is on a NNN lease and pays the adjusted property tax my question is when should I start prorating for the new tax amount and when do I charge for the outstanding tax bill that I am currently facing. 

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).

I always do credit checks to look at prior evictions, outstanding debt, etc.  

However, credit scores are a great way to view someones payment history and you get to see how many outstanding debt payments they have.

You won't be able to operate as a complete absentee owner unless you have an outstanding on-site manager and systems in place for rent collection.  

You may also want to understand any outstanding maintenance items (mechanical systems, roofs, larger outdoor structures maintenance, etc).

Once the work is complete, charge the tenants for any outstanding balance.

We are looking for a minimum of $100k which would be used for a few building upgrades that will make the space more marketable to certain groups, pay a few outstanding construction bills, and the rest to have stronger cash reserves on hand.  

My advice: consult a lawyer for legal insights, conduct thorough research on outstanding liens and taxes, and approach bidding with caution, considering potential hidden costs and delays.

Whether your profit is $50k or $500k doesn’t matter, neither does your outstanding loan balance.