You are able to borrow what you were expecting more or less, so you should be sufficiently happy with the outcome.

Then if its in your lease or in your landlord and tenant laws we charged for not giving a sufficient 30 day notice, if they broke lease charged a lease break fee, we pro rated carpet & vinyl if needed to be replaced. 

Current income is sufficient at about 3x the rent.

so good job on that.Make sure parking is sufficient, and that city has no major assessments like street improvements coming down the pipeline.. that will cost you $$ in the near future.As far as mechanical, roof, ect..unless your a expert have someone inspect.. 

This loan will be on a 25 yr amortization schedule with a 5 year balloon.I'm a bit nervous about the balloon because if the property doesn't appreciate in five years I'll only have ~7% (aside from my leveraged 10% downpayment) in equity and will need to come up with a significant sum to get my LTV sufficient to refinance with a commercial lender.

Although not indicated in the original question the tenant informated me that he would 1) be able to bring the rent up to date (2 months) owed with an expected unemployment check in the near term, 2) that his benefits would be sufficient to make future rent payments and 3) that his dad would support him if needed and he offered to provide documentation for both 1 & 2. 

In many places you can access limited case file data online, however this still may not provide sufficient property along with PR's and heirs' contact info.There are now some commercial data providers that collect and resell the info.

Invest in them because they will save you tens of thousands, and if you buy many properties a year even hundreds of thousands because they will save you from those homes with the surprise foundation issues, sub sufficient electrical, failing roofing hidden by multiple layers, and more, in short they become free as there savings will more than cover there inspection fees. 

Generally these are people that either (A) had children very young or (B) do not generate sufficiently income at their jobs to save enough to buy.(5) Lack of Credit. 

When crime increases, people with sufficient income move to areas with lower crime.