, who gets the budgeted amount for vacancy?

They meet the second Wed of the month.

In negotiations i would figure on putting a new roof on to make sure i have it in the budget. 

Are you CAPEX expenses figured into your maintenance budget or separate? 

It's not analysis paralysis you are describing... that generally comes from unknowns (i.e. am I budgeting enough for repairs/vacancies/etc)... the unknowns leave the analysis incomplete and ultimately result in an inability to move forward do to fear.Numbers are numbers, you can only analyze them once... 5 + 5 = 10 and it's impossible to be paralyzed by that analysis.What you're describing is an inability to create a weighted decision process.  

At $400k you'd be at a 13.8% CoC which is more in line with my 15% minimum.Things to watch here... lack of a CAPEX budget (given not low taxes... and not low water... and not low vacancy... the 50% rule may not work for you here)... and in a commercial property, you won't lock a rate for more than 5 years.  

(Unless you have the budget to blind market).Play devils advocate as much as you can and step back and look at your offer through the eyes of your potential customer.

You can't prove that they did it unless you have something that proves the condition at the time they moved in.Plan and budget for all the inherited tenants to be bad, and assume you will have to get rid of them.

I've been trying to put one together but am on a tight budget.

These issues can usually be dealt with by a smart long term investor but I tend to think most retired elderly people are set on a strict monthly budget and a major pitful like the ones a rental can bring can really hurt them.