Recent price reduction of $120K and we got it under contract almost immediately after it was listed at the new lower price.We have done local rent surveys and we think we are competitive.We're still in the Due Diligence phase right now, and are getting: Appraisal, environmental study, HUD statement, utility details, insurance, financing.Anything that you think we should be considering here, either about this deal or about getting into an office building in general?

You can reduce that risk with serious research on your market; studying market cycles, the attitude of the city regarding growth, master plans, jobs expected or know to be coming to the area.

Keep on reading and studying.

About 6 months ago,  my grandparents moved into an assisted living facility. 

I am thinking of hiring a virtual assistant to run the show on this side of the table so I can focus on sales. 

I've worked in medicine, IT, environmental technology, organic chemistry, teaching, and customer service (assistant managed a IT help desk).

If he needs someone down the road to assist then I can hop back in.

I’m currently studying for the ASVABs

I have been studying real estate off and on for  the past 2 years.

I would not trust her and as suggested seek assistance through your state landlord tenant regulations if they apply to home owners renting out rooms.