I assume that the hidden areas are in good shape, and if my inspection tells me otherwise I expect to be compensated (or, as I have done before, just walk away from the deal) for addressing those issues.

It is important for a landlord to fight for every provision in their favor for a lease because when you go to sell the center if you obligate the buyer to future reduced rental increases, non-cumulative caps on cams, etc. then buyer will want higher cap rate to compensate on the purchase.

The purpose of a cosigner is to be able to collect rent from a responsible party if the primary on the lease fails to pay.I would also charge a higher deposit to compensate for the additional risk and consider a month to month agreement in case both the primary and cosigner default on the agreement.Renting to college students with parents as cosigners works well for many landlords but exercise caution here.

As I alluded to I was a victim of the recession and had to foreclose on my house in AZ as I had to relocate for graduate school in CA.

I would prefer the management's compensation to be aligned with the performance of the property for the investor.

Also, you should always include Property Management in your analysis, even if you're going to do it yourself.1) Your time is valuable and you should be compensated for it. 2) At some point, you may want to hand off the day-to-day management and spend your time/effort finding new deals.I know this is your 1st deal, don't talk yourself into a property where the numbers don't work.If this were me, I'd pass. 

Meaning likelihood of being the victim of a crime.

If you are providing more value than what you are compensated and your students are going on to become better and a success then more power to you and you would be in the minority.

If the one sibling wsnts the house, then that sibling should buy if from the estate using a mortgage if necessary, so that the other siblings get their share without concerns of sharing liabilities without being compensated for doing so. 

I'm seriously trying not to break down in tears right now, that comment was very hurtful as someone who has  been a victim of assault.