If you wanted to dig deeper into your states real estate laws, etc you could study your states real estate agent course for under $1000 during the summer break.

If the HVAC or water heater breaks, your landlord's policy won't help with any of that.

I'm breaking even but gaining equity. 

Most insurance doesn't cover theft or damages due to break ins if a property is vacant for more than 30-60 days. 

Is it over priced by 15kDoes the deal break down because of the 15k difference?

I didn't break any new ground or invent anything new.

I'm getting the pattern of late rent on a regular basis, offer to let him break the lease to find something less expensive, and give his security deposit back as long as the place is tenant able.. end it with something like unfortunate if rent is late as a business I will be forced.to seek the legal remedies. 

Here it is...the year is 2007We are produce farmers FIL sells farm-we have basically zeroHusband under-educated /only job he ever had (46 yo)I took our lives into my own handsTraveled upstate (NY) Bought a house for cash WITHOUT TELLING HIM (425K)Ummmm-where the F am I getting that moneyWent to local mall with my 3 girls-called him from my flip phone to break the news- he fell silent BTWDrove back home (near NYC)Sold my house for 500k to a mansion owner close by (look up GLENMERE MANSION)Got my RE licenseFound my husband a job-he obvi couldn’t use a computer We are still in that houseWe’ve only lived in 2 houses I now buy houses regularly WITHOUT TELLING MY HUSBAND Because that sh*t is funny.

I can understand that yeah the windows are needed because it's a fancy salon with an image to uphold, but at the same time if I just waited 1 year, I might find a tenant who would handle their own build out, and I might break even.I'm also nervous about:1.

And in the future ask about reoccurring payments, if you want that information.Also you should ask if there are children who are there full time, part time, occasionally such as Summer, weekends, school breaks.