Tenants stay longer, reducing vacancy costs, and fix-up between tenants. 

Definitely need to build outs in the contract so if it doesn't work you can get out quick.You need a business attorney to draft the partnership agreement etc. and also do the lease so you are protected.You will need to spend money upfront to protect your interest down the road and reduce damages.No legal advice given.

For one if you are looking at purchasing a $100,000 property and the listing broker has a 6% fee built into the deal you could either participate and get a 3% commission or choose not to participate and negotiate to have the purchase price brought down $3,000 (better IMO as its not income this way, but rather reduced price).

*It's generally in investors' best interest to have their competitors be represented by the same agent to reduce individual deal competition.  

yep u can propose a contingency/rider that allows u to exit before lease terminates if your business fails during the lease term however it reduces chances of the PM/owner taking it seriously as they would then have to monitor ur monthly revenues (something many commercial owners do anyway in order to assess royalties due) or proof of lack thereof

You can occasionally convince seller's agent to reduce.

The drywall was true 1970's 1/2inch thick & the paneling varied from a solid 3/16-1/4 plywood.Under all this we also discovered the occasional complete wall of 1' tongue-in-groove pine plank which was once an outside wall.To expedite the work, reduce the mess & costs I would simply lay drywall over the top of the paneling.

  $20k down on a nice house and $2700 a month with taxes is no problem, we currently rent for $2400 and this move would be reducing commuter costs by about $300 a month. 

Don't you have to be current on payments to qualify for a reduced sales amount to what is owed?

That should reduce the premium a bit.