Basically you delay closing and get a written agreement with the seller on tenant screening procedures.Our group is actually working on a deal currently that is pretty broken from a vacancy stand point and the owner is going to let our property management take over at the execution of the contract and then we dont close until an agreed upon economic occupancy hurdle is met.Can send you some high priced lawyer language from our contract if you want lol, hope you do not have to do anything that complex in this scenario.Cheers

The goal with paying it off would be to jump the mental hurdle of owning a property free and clear, start an LLC and transfer the title into that LLC, and then to have a property that we can HELOC against in order to have the flexibility to make cash offers so that we can begin making LLC purchases more easily rather than titling in our own names.I'm certain that plenty here would advise to continue rolling the money into new properties, rather than to pay one down, since owning the house free and clear would provide about half the cash flow that we could get from down payments on two new properties, however my wife (in particular) and I both like the idea of simply owning one property outright and then using the above strategy moving forward. 

Is it a good idea or an unreasonable ask in my offer to have a contingency stating I'd like to get a professional appraisal done and offer is contingent on my satisfaction with the findings? 

Option 3- This one is my fav as it completely maximizes the building but has some hurdles.

My assumption is that we will have to petition for a change in zoning, but I wanted to see if anyone could offer some advice as to what potential hurdles may lie ahead for us in this somewhat unique situation.Thanks BP

Giving very specific answers is often enough to satisfy out of state investors...truth be damned.What a low hurdle for a company to get over!  

Not available at reasonable (sometimes unreasonable) hours to meet clients - people will pass you by! 

@Ryan YorkGood question - If the property is already zoned commercial, you've already passed the first (and sometimes biggest) hurdle.

@Bryce Spraggins glad to see you have crossed one hurdle by connecting with like minded individuals. 

My main hurdle right now is securing financing as I am OOS and do not know my options for who can offer a new construction loan.