I would look at it this way:On one hand, I can try to find a local bank that will like me enough (yes, it's a person-to-person relationship in these small banks) to give me the loan to refinance but they will do LTV or LTC whichever is LOWER and will usually use the current NOI as the bases of valuation. 

You have a pre-existing developed relationship with someone, that person might be willing to go the extra mile if you use that benefit sparingly.

From what I heard, redemption rights are usually bought at around 2k-5k, and in your situation it would probably be just for peace of mind.

as usual, my questions are very basic, so I appreciate your patience. 

Is it worth the maintenance and all the extra costs?

I don't mind paying extra for a quality report if necessary. 

@Adam Soyak I think the brown existing door looks great with the color of the siding and trim you chose, white would look good too, but why spend extra money if it already looks great.

Is it worth the maintenance and all the extra costs?

I know it's usually a 20% down requirement for investment.

The current landlord may have to make a deal with the tenant to vacate after the sale (or the court may give the tenant extra time).