How many squares of roofing, and anything unusual about the pitch, height, or roof construction?

In the west, it's not unusual to have to research 50-100 properties to buy 1.

A budget can help you spot unusual occurrences.When you have a good understanding of your costs then understanding the effects of vacancy becomes easy.

It would be unusual that zoning would just allow any type of commercial activity.Not knowing to much about the location it might be possible to use the land for a farmers market / flea market.

Not saying this might not be what's being done, but this would be a very unusual way to handle the commission.If there is a commission on the sale between the LLC and you, then I call BS.

If they don't seem unusually high, then you may want to leave things the way they are (i.e. the way the tenants are used to) after purchase and take six months initially to decide if these are, in fact, tenants you want to keep.

Sounds great and all but I’m Just uncertain!

Appreciation is great and can be much more lucrative than cashflow, but it's uncertain.

Let the tenant know in no uncertain terms that you are not waiting for funds from the prior landlord (as others have pointed out, it may not be kosher for you to accept funds from the other landlord, and you don't need hassles with the government).

This is not an LLC specific issue, but if you plan to operate in several states, you may want to choose an unusual Name to begin with.Along with a LLC certificate and filing, you will need an Operating Agreement for the LLC.