DOB also doesn't have blueprints of the building or formal classification of the space.

@Duke Marquiss  whats your take on mortgage and judicial states as opposed to Trust Deed and trustee sale states. ?

Are there any cases where an SM LLC had its owner held personally liable based on corporate formalities not being followed (i.e., a judge actually saying that an owner was not separate from his business because he didn't take meeting notes for himself)?

You don’t necessarily need a formal home inspection with a report.

@Dakoda Spencer- thanks  1)  get  formally  pre approved  with a lender in order to  learn / understand the process and  also  so you can determine if you are  able to  obtain financing   2)  if you are not able to  get approved or  if you arent  ready -  this still  will be a good   exercise in order to  learn  .... 3) the pre approval  process is  free / non binding  and relatively easy - good luck

@Carlos Ptriawan It seems like this arrangement would be outside of a formal offer.

With a management company I ask specific questions 1) how long was the tenant with them 2) how much was the rent 3) how many times late 4) any formal complaints in their file 5) did they ever take any eviction actions against the tenant 6) did they give proper notice when they left 7) was their entire Security Deposit returned to the tenant when they left 

I wrote them a text explaining similar points you made and then a formal letter in mail.

In Arizona, there are trustees who do non-judicial foreclosures pretty cheap and I am sure other trustee-sale states (e.g.

Keep it professional and business-like.Be firm on lease terms, be formal, do it all by the book and be prepared to evict, charge late fees etc.