It seems like it might be more difficult with some lack of control, but in the long run I feel that it would be more beneficial and easier to scale. 

Both are taking about 4-6 weeks to receive str permit and there are huge fines for operating without one. 

And if the seller artificially inflates the price to accommodate the improvements then they have a huge gain issue. 

That way if you need to go visit the property it’s not a huge hassle and since it’s nearby you can compare it to the market you live in and pull in some very relevant data into your analysis. 

Now this issue is out there and cannot be hidden any longer.....Maybe let him dangle trying to sell this for a while and when he get's desperate, swoop in and get it at a huge discount.

The downside is (1) compared with residential, comps used in appraisals are nowhere near as accurate, so the income approach is heavily relied on, which can produce huge swing in “valuation” depending on cap rates, interest rates, revenue swings, expense costs.

But I think defining your minimum cash flow, cap rate, COC return, and any other metrics you think would be beneficial would be a good way to help analyze your deals, that way you have something to measure against.

I don't have huge bills or family, so It is easier for me to start working on my financial life.

I guess there is a growing secondary market for slightly used blinds.Theft is a huge problem for all construction.  

Also, I just want to acknowledge that I know it's a huge pain to break a lease and have to pay your landlord an extra one or two month's rent.