But it’s CAN be a great way to PRESERVE wealth long-term.

Are there any zoning restrictions in terms of what businesses can operate there? 

Property manager recommends Porcelain Tile (states more durable in long term) over luxury vinyl tile/plank.  

While the easy explanation is that you have a superior property, from the appraiser and bank's POV, I could see them arguing that you will not be able to renew at that rate, and since your loan is outstanding longer than this lease term, they should not underwrite entirely to an above market lease rate.  

You could always see if he will just seller finance for 30 year term because a promissory note is considered an asset and can be passed down just as a house would be able to.

Together, we negotiated favorable terms with the seller, leveraging our combined expertise to ensure the best possible deal.

Hope you weren't planning on a lot of short term rentals. lack of wifi access would be a bummer. 

Together, we negotiated favorable terms with the seller, leveraging our combined expertise to ensure a beneficial deal.

I am looking to learn and create specific strategies to create wealth in the medium to long term.

I'm Ben from Lubbock TX, looking to learn and grow my portfolio through long term rentals.