I agree with Doug, I would not invest any money into a property I don't already own. 

And realize they may not agree to any substantive changes.

If deed and possession are not delivered to Buyer by Closing Date, this purchase agreement will be null and void, unless an extension is agreed upon in writing and signed by all parties.  

@Peter BechmannThere are several of us who work with clients all over the country via electronic communication.

The tenant ("new business owner") and I both agree that it makes sense for him to buy the space from me, and have agreed on the basics of the deal.So ... my question is ... do I have to get a broker to facilitate this deal, or can I do it myself? 

Is it better for me to buy within my state or is it possible to find a good deal on a house any where in the country and still be able to afford/maintain it?

I have a tenant who moved in June 2018, signed a 1 year lease, and submitted a deposit.This weekend I learnt that they cannot make the August rent payment and we have agreed to part ways.Question:  Being that they broke the lease agreement, do they lose out on the deposit? 

I agree with you on all points. 

I obviously did NOT charge a termination fee because they completed the agreed upon lease terms.

Price is relatively cheap compared to other areas of the country and other areas of the state.