Management is usually not as intensive as say multifamily but still has work so need to make sure you are getting extra yield for return over a single tenant NNN property that is investment grade.The amount of work with a retail center depends on the tenant mix of national, to regional, to mom and pop tenants.As far a tenant going dark you the landlord will then have to entice another tenant to lease the space and everything is negotiable as to lease structure, landlord TI's, leasing commissions, etc.

When you buy a property for cash, spend the extra money to pay for title insurance.

@Caroline Gerardo wow thanks the side business makes an extra 800 or so a month and anyway I can talk to you for more information

Most of the "not so good" ones I had to find out the hard way, having spent extra time, effort and $ to be unpleasantly surprised.I have already went through all the permits and old records looking at microfilms for hours at the city's archive office.But I still have a lot of questions that I believe this person can answer.  

If your goal is to pay more for your properties, then go ahead and pay them off with that extra cash. 

I figured if this was the worst flood they saw and it rose that much building a extra 15-24 inches of concrete wouldn't be too bad. 

However, if you just want an extra property every few years, then it may be better to use the cash.

I would either collect first and last month's rent, extra security deposit, something to mitigate the risk of a marginal applicant like that as well. 

If you could convince a bank that it is worth $325k today and get a mortgage of $245 then you could write a four year lease with his full four years being paid up front (depending on laws, maybe you could even write it in a way that it is non-refundable if he decides to move early - or at least that he needs to give you 6 month notice)- then you have that cash to use for your payments and some extra that you could use for short term investments.

Spending extra time on the little details goes a long way.