They can attract a lower quality of customer and the homeless population, though, which could affect other businesses in the center if it isn't managed well.

Matt,If you need some help on this process our company, Assumption Solutions, consults on and processes VA & FHA mortgage loan assumptions between home buyers, sellers, and real estate agents.Our website is assumptionsolutions.com

We had to replace some and found ones that worked with a little shimming and buildout for very little compared to custom windows and waiting.  

My assumption has been that it'll take me 10 months before I'm fully leased up, although of course I'd like to do better than that.

Remember its a business and they are YOUR customer!

Based on my analysis (found an analysis spreadsheet online: BP post Master calculator copy - Google Sheets) I'm seeing -3% CoC return in the first year and I'd probably pass on it unless there'd be obvious opportunities for forced appreciation which in this turnkey scenario might not be the case.The listing outlines property taxes as $4k/year and property insurance at $1.5k/year.Some of my assumption:-Vacancy reserve: 10%, Maintenance reserve: 10%, Property management fee: 10%, -20% down, 7.5% interest rate = ~$100k cash investment.

Outside of that, there is a million reasons people buy insurance and business owners, such as yourself, require their customers to carry insurance.

I agree that seasoning is a frustrating policy and believe a better solution would be KYC (know your customer), track record and relationship based.

Sounds too thin to me, but the devil is in the details. 50% rule can hurt you.I'm starting to learn to look at the variables which are most likely to vary:What are your assumptions for vacancy and how nice of a neighborhood is it?

And they are not known for good quality or customer service, at least in my experiences...