The LLC that I have established will be purchasing the property, which is one of the main reasons (among some others) on why I'm using a hard money lender to get the deal done. 

I’m mainly interested in commercial btw.

He has owned it for about 32 years and the offer is very attractive so he has been considering it as he had previously considered retiring within the next 3 years anyway.

You have way more than a night to change your mind but the expectation is that as long as the PSA is keeping with the main terms of the LOI there should not be an issue.

Main bathroom.

My primary focus is to great passive income and too secure Financial freedom so I can enjoy the time I’m given with family and friends.My main focus is buy and hold rentals (single family, and multi units) but wouldn’t be opposed to a fix and flip or wholesale, I personally think having some of both helps with an exit strategy depending on the market.

From a financial perspective, I think the main key is to make sure you are very comfortable with the guarantee of payment you will get.

It’s a storefront retail with residential on the 2nd floor building right on main street.

I would be interested in areas that would attract long-term tenants, but then there is a tradeoff with costs.

Maybe this isn't the neighborhood to be buying a bunch more in.I agree that yard signs attract a diverse crowd.