There are many RE Attorneys on the forum, create a post looking for legal advice and perhaps someone gas a keyword alert that can help you out.Good luck Joel

Biggest thing with land is just seeing if it is as valuable as everyone thinks it is.I would glean so much information talking to real estate department heads for the region for various types of businesses.Typically for a corner pharmacy pays the most, followed by national gas stations, then national banks, dollar stores and restaurants will not typically pay corner money.

It is really nice for someone to validate and point out the obvious of just jumping in.                                                                             

However, your concerns are valid.  

Jim,I sent you an email however it got kicked back saying your email is no longer valid?  

if they put a lien that was not valid then a quite title action would be one route to take. 

Besides your taxes, insurance, and HOA your tenant will should be paying an have (water,gas,power) utilities in their name.

Read the requirements for a valid contract.

Capping all plumbing and adding a nice, big linen closet (closet space is somewhat limited given age of home.Other decision is to keep above ground, in basement oil tank or converting to nat gas.  

These units currently have gas stoves which are old, we will replace with electric.