@Jesse Os to confirm rent, you can also get signed leases and estoppel agreements from the tenants.

Looks like you are not willing to enforce the terms of the lease.

I would definitely calculate everything else including VCL even if 100% leased. 

They charge 10% monthly rent, an extra 25% for the lease signing, and 5% for a yearly removal. 

Most commercial outfits mark up 8% annually.Most buyers make a very wrong assumption that their lease payments are somehow paying down the purchase price and that they own something.A rent-to-own, which is a confusing name, is just a lease with an option to buy.

Or, are you doing funky owner financing like a lease option, subject to, wrap or land contract? 

In the DC area they reduce the value of the property whether they are leased or owned.

https://www.har.com/content/newsroom/Highlights: Single-family home sales rose 5.3 percent year-over-year, with 5,260 units sold;Days on Market (DOM) for single-family homes decreased slightly from 67 days in February 2017 to 65 days this February;Total property sales increased 3.1 percent with 6,375 units sold;Total dollar volume climbed 4.5 percent to $1.7 billion;The single-family home median price rose 1.4 percent to $226,200, which represents a February high;The single-family home average price edged up 0.4 percent to a February high of $281,945;Single-family homes months of inventory shrank year-over-year from a 3.4-months supply to 3.2 months;Townhome/condominium sales fell 5.1 percent, with the average price up 2.0 percent to $210,887 and the median price up 4.6 percent to $170,000;Leases of single-family homes fell 11.5 percent with the average rent up 4.1 percent to $1,720;Volume of townhome/condominium leases dropped 11.5 percent with average rent up 2.2 percent to $1,515.

By the way, I only do owner financing, "Subject To", Wraps & Lease Options.

---one has been in place about 1 year; just started a new 1 year lease; seller says he is a PITA and it typically late on his rent, but pays the lease-ordered $25/day late fee-Seller said he wants to enter an owner carry / owner finance scenario, as he wants to spread out his tax liabilityHere's where I need your advice:-Seller paid $150k for both properties four years ago.