This has been a consideration anyways to mitigate risk.Long story short, the listing didn't include that there were tenants in place.

The RE broker found someone reputable and got back to me with a quote of $45K for the big office building and 40K for the smaller office building (would need to be done in next 3 years) – this would include tear down, using shingles that last 30 years, repairing mortar joints on chimney, etc.

I think I've done close to 10 deals so far including a few flips. 

I'm also not sure how including utilities in the rent and expenses affects the purchase price.

They supported me (financially) up to and including college and have supported me (emotionally) my whole life.   

So I’d make sure the demand letter doesn’t include them.  

I'm thinking about a family syndication that would allow the parents (my parents and their siblings) help secure homes for their children (me and my siblings/cousins) while giving the parents an investment return.My thought is, someone like me or my cousins do not have the capital built up to get a loan from a bank that does not include PMI so offering the "syndicate LLC" a higher return on investment for a short period of time while allowing the child better leverage to grab a house with the cash that the syndicate provides. 

He also said we could rent the basement of the property but due to local laws we are not allowed and he also inflated the cashflow to $2,000$ a month (based on basement rental included).

You did not include Vacancy in your analysis.  10% for Vacancy ($260) will wipe out your cash flow.  

The language can easily be included in your lease and must be in at least 8 pt font.