@Ben HofstraTo be ready for the purchase of property that you plan to undertake as from September 2025, read more about investing in real estate, set your standards and financial readiness in place.

So be sure to check with your prospective insurance provider.

Quote from @Kimberly Porter: It is $450,000 Then 40k is nuts. 1% is standard which would be 4500. 

I would also qualify it on no damages that exceed the security deposit.Hopefully you have detailed pictures before renting, and is a good reason for regular inspections to check that HVAC and other equipment is functioning properly, and allows inspection for damage from leaking roofs, etc., as well as tenant damage.

It's an out of state property, so going to check it out for myself isn't a viable option. 

Here is an excerpt: Standard of Practice 1-7 When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing.

Check it out!

Even though they don’t know it and I know they at least got a check for $2000 what that does is incentivize them to learn more however to move forward as they learn.  

Retail in the sense that it’s your standard building with parking lot and retail tenants. 

I'd check data aggregator sites market reports if you want exact zip code appreciation.