The 50 person company that used to need office space for all 50, now may need space for only 25.

You're going to need enough cash on hand to pay out your deductible on this or pay more for a lower deductible assuming your insurer will allow you to have an umbrella policy without property insurance.

Even if you agreed to pay them more than the actual value of the house, you say the house appears to need a lot of work, and you haven't even inspected the interior.

When a tennant moves in they will call for new service and the provider will come to tone the lines and figure out what is what. 80% of the wireing on the building is probabely obsolete any way, not may people get hard-line telephone any way.If the wires are coaxial cable (used for "cable") then you can remove them all if the building is vacant because the provider will run new for new service.

Especially big thanks to @Ned Carey and @Wayne Brooks for getting me thinking about possibilities and the right way to think about structuring an offer.

I think what the seller is implying is that the past HOA dues are going to need to be paid before selling to any potential buyers as a condition of the sale.

If you're going to need to do work and find renters, etc etc... target 1.8 - 2.0%.

The way you begin from this point forward will set the tone for your entire relationship, so ask all the questions you want on the forums!

Also, I would recommend you use warm neutral paint tones in the main living areas.

I know one of my houses is going to need a sewer line one of these days, and that will eat almost 50% of annual rents in one big check.