I think bonded warehouses or just spaces that could be used for distribution or light industrial are good from a macro perspective.

The seller offered to pay for the cost of a redemption bond, but I am wondering how I would be impacted in the rare case that this property is redeemed?

Balloons coming due with higher interest rates, China market, China production, Manufacturing production moving back to the US, Worker shortages, Workert pay hikes, Ukraine/Russia food and fertilizer misses, Oil prices increasing due to the OPEC Q1 production curtailments in place, Houthi issues, Panama Canal Water issues, Illegal immigration impact (buy one of those office buildings and rent for $10mm per year for Illegal housing, take advantage) social benefits required, Climate change believe it or not- Buy or sell into that thought process,  US politics, Baby boomers leaving workforce and needing more benefits, Baby Boomers moving from Stocks to Bonds,  etc.I agree things will get worse, but that means more investing opportunities. 

You have to make sure your numbers work, meaning you don't want to put gold teeth into a dead horse.  

If you're interested in stocks and bonds, bogleheads guide to investing, the intelligent investor, etc. 

I have heard every sob story in the book and with it being winter and around Christmas it’s like pulling teeth to get tenants to pay on time Any advice is appreciated

If I pay cash and compare that amount of money to what I have invested in bonds and stocks it needs to return 6-7%.

@Mark Mynhier  not sure about CA.. but in Oregon to be a licensed contractor you need a 20 to 50K bond and insurance.. the bond may allow some recovery.. plus most contractors don't want complaints filed against them..

I mean licensed and bonded with a good references. 

., being taken to the proverbial cleaners by a syndicator who was once a LU member but decided to quit and go bat-**** crazy -- I'd never join again if I had the knowledge I do now that their sacred "white paper" (rules for syndicators/GPs/"leads") has absolutely no teeth, and that they do not stand behind the passive (limited partner) investors once something goes awry.