Eventually, she caught up and was current on her rent last month, so I thought I'll probably just tolerate her late payments as long as she does pay.

EVerything else, as long as you have positive CR is paid for by the tenants, and spread out over time in very small increments.Now this is a commercial property, but I will give you an example of a SFR one where the roof will need to be replaced within the next 5 years, and I will have the original financing pay for it now, and why. 

It doesn’t matter how long it takes as long as you finally get it!

As long as the bills are still getting paid, you stay the course.A great example are people who bought literally the day before the meltdown in 2008. 

As long as it makes sense to you is all that matters.  

There's a bit more to it since it's on the market and your investor could see the property themselves by searching it but as long as it's a good deal and you found it, it may not matter.

That everything takes twice as long as you think it is going to.

That everything takes twice as long as you think it is going to.

It doesn't really matter so long as it's in a bank and traceable.

On one hand I don't like this on a personal level and feel that it is none of the landlords business, but on the other it is their property and as long as it is applied equally then so be it.