It sounds like you are doing well and enjoy the path you're on, which is the most important factor. 

I would start by building out a basic P&L for what the property generates today vs. what it will generate in the future, and factor in any capital expenses required to get there.

No ceramic tile repair or replacement is included.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Most lenders look for BBB- or better investment grade tenant.There are so many other factors that come into play.

What should I included in the contract and what to look for? 

Cost is $61k which includes a .2 acre of land.

If your LLC is sued, you will be required to defend the LLC, your name will then become known, and the plaintiff's attorneys will amend the complaint to include you.

@Ayyoub Reza   There are a number of places to get agreements but make sure you get one that is current and state specific (here, legal zoom, a lawyer, real estate association ) Read your HOA bylaws what does it require to be included.

Developing contacts with other investors may lead to useful information, assistance, and even joint venture prospects.Examine the several financing choices that are available for buying houses, including conventional loans, FHA loans, VA loans (if appropriate), and even portfolio loans from nearby credit unions or banks.You might think about contacting mortgage brokers who focus on investment homes.