If so I think you have a really strong case for having the seller pay you since it was their error.Once I receive leases I always get the seller to sign an addendum authorizing escrow to withhold deposits and pro-rated rents and list out the amounts.

But Mike would sign the listing?  

If it is just the business and not buying a building or the land beneath it then it is not generally a real estate licensed activity.You need to check for each state what is or is not required.You could go on a site like Rocket Lawyer etc. and for a nominal fee ask the question.In commercial real estate transactions you can generally have consulting and other fees on the HUD-1 as RESPA does not typically apply.To look for more businesses you could look at bizbuysell.com  Sellers typically want 3 times gross profit earnings so if 100k a year after expenses they want 300,000.

Sign a master lease giving you sublease rights to the property along with an option to purchase or a right of first refusal (option with set price would be better).4.

I have lots of questions in this area, but I would love to hear a story of your best success or worst "lesson learned" type of transaction at the courthouse steps!  

I was the only bidder & I purchased it for $211,331 using a HML with 25% down, 12% rate, 11mo term, with a $225 transaction fee and a $200 payoff fee payable at the end.

good to read... got an ad for their free seminar and signed up because, you know, it was free.

Do they all sign a separate lease agreement?

Additionally, the fire suppression system will need to be maintained and signed off every two years.

I went blindly into my first condo purchase and have a second one under contract, but I wasn't quite sure about what I was doing with those two transactions, since I hadn't discovered Bigger Pockets yet.