If it is really gnawing at you, perhaps try to raise some of your concerns to the seller to perhaps get a credit or a slightly better deal. 

That raises another problem: the Courts in my state are shut until April 1, and while that may not affect me in the near future it certainly will if this goes into May or June.

Too many people are thinking real estate is immune to the greater economy.

I'm brainstorming how to acquire the property with my 1031 escrow funds and, sometime AFTER acquisition, raise equity for the deal that would "take out" most of my equity. 

There is only so much the fed can do, and the federal government will be forced to raise taxes at some point.

You might have to look for deals where you need to add value to the property and be able to raise rents.  

For a value-add play it is still important, but typically not going to be breaking the budget quite as much, especially if you have the ability to raise rents reasonably significantly.Also, out of curiosity, does that NOI have built in on going reserves?

Raising rents will add value, as well as I plan on to install central air and to replace a few old windows on the building.

@Mashika Patrick - it was a syndication, so I only put $100k in, but we raised a total of $2M.

You would hate to have a vacancy for a month or two if you raise the rent too much at once unless you know you can get someone to move in immediately at the desired rate.In a nutshell... what are strategic plans?