Instead what usually happens is the owner pays for it upfront and then collects what they can over time until paid off.That is if as already mentioned an owner did not already account for it with so much reserves per sq ft while owning to properly maintain the asset to a high standard.When buying a retail center the first question I ask is about roof and parking lot because they tend to be the most expensive costs.

You will probably also need a CO from the town - usually done by the seller, but you’ll want to ensure it’s done for closing.

On flat roofs you have to look at poles, HVAC etc. attached to the roof.When contractors do not install properly they can leak from the bolts put in the roof, bad flashing,etc.Flat roof you usually get core samples to see the quality underneath the most recent layer put on.

It's supposed to ensure there are no surprises after closing.

Good Evening James,Thank you so much for taking out the time to respond to my question, you provided me with very valuable information that is going to help me in ensuring that I  don't get taken advantage of being new to the industry of realistate.

The proper procedure would be your states version of a cure or quit notice.

I would continue inspecting to ensure compliance. 

I live in the area and would love to ensure that the location thrives!

Before doing a renewal, you should always review the tenant's payment history and inspect the rental to ensure they're maintaining it properly.

Find a tired landlord and get them to carry properly for at least a few years.