This will be my first property into Commercial space and that too out of state. 

This is a mixed use building, total size is about 10,000 sq ft. 2,500 sq ft of office space, and 7,500 ft of warehouse / light industrial space.

My brothers and I were in similar shoes as you are in now when we were starting out in the multifamily space.

After I questioned him why, he told me he still has a lot to do and will store his belongings at a self-storage space and then start to appeal to emotions and say how he has been paying rent on time for almost 10 years, how a faithful Christian he is, how he has been paying contractors to fix problems instead of me paying them (he never notified me when he did it), how he has replaced my old worn mini blinds with his new mini blinds at no charge (but without notifying me when he did it), and tell me to give him some more time.

Closing on a fantastic duplex with 4 parking spaces this week...

Also, if an unpermitted space isn't done in a "workmen like manner " the appraiser might call out the area's that are poorly put together if it's a safety or health issue.

Hi Joseph,Thank you for your comment.We need to replace a stove top that has downdraft with a duct that takes up a whole double cabinet - we want to see if we can move the stove top to a place where under the counter space is not as important without tearing it all down. 

(space on the mountain is limited)  If this works out and my number are off by 20% it will still cash flow $30,000 a year after everything else is paid for. 

It seems like there's a lot of red flags here but I'm trying to see if I'm overlooking something or if they way they are operating is normal in the property management space, although from what I've seen it seems most companies pay bills out of their own pocket first and then deduct that from rental income before sending payment to the owner.Many thanks for your input!

I am very new to the short term rental space and would like some suggestions.