It is also a small town in a historic district, and they seem somewhat tough on zoning changes. 

What I wrote above does not create an attorney/client relationship between us.

I fear this may be my biggest hurdle while getting started.The AskAre there relationships where a wholesaler has a contractor to estimate the repair cost of properties and the wholesaler give the contractor a portion of the profits for the properties that are sold?

You have no capex set aside to get this done NOW and repair this relationship with the tenant.

What I wrote above does not create an attorney/client relationship between us.

No one can answer if interest rates will go up or down in the next 2 years, but if you had to gamble you'd gamble up since they're already near historical lows. 

So far so good, just be careful working with friends and family because you don't want to ruin relationships or hurt someone's feelings over penny pinching.

You should also ask how you can help them, because this will help you gain both experience and a valuable relationship.

This would have been a 6 month project, and im not taking that sort of risk to buy it as is and hope the town allows such plans.What I learned:- FHA is possible on commercial- 203k really isn't that much work- PMI insurance is extremely expensive- Learned about commercial kitchens and fire codes- There are great people out there willing to help- Learned about conservation areas, what can and cant be done- I have about 6 new contactsIm out $900 for the initial HUD inspection, but happy to pay it for the knowledge and relationships.

If they've violated the terms of the lease on more than one occasion, then that's a pretty good indicator the relationship is probably not headed in the right direction and it might be time to start searching for a new tenant.