@Dan Host - something just popped into my head!

Since you're not local, you need people who can give you insights and know how to go about things that can pop up during the purchase process.

This is just my limited understanding of estates, so be sure to discuss with a qualified professional.The only other idea that pops to mind is what would it cost to rehab the property?

As the market is changing and more units are sitting, more and more owner financing deals are popping up.

I found it with a real estate agent, we didn't think I could afford anything in this area but this popped up and we went to take a look.

You need to gain enough market knowledge that when you see a house pop-up on the market in your target neighborhood that you know how much it will sell for once fixed up. 

Does anyone here have experience leasing to a mom-and-pop daycare operator?

If you get an old building for next to nothing in price with the land then can typically cash flow with mom and pop to small multi-operator tenant with little TI for fix up.Everything is a case by case basis that comes with experience. 

I mean as far as listing pictures go, seeing full on theater seats with a big projector screen really pops.  

Or just wait for one to pop up that isn’t occupied.