What do I need to know before diving into NNN lease investing

[Alex Skeg]

Coming from owning only multifamily properties, what do I need to know or where can I find info on what goes into owning/operating a building with NNN leases?

I am looking for multi-tenant commercial retail/shopping center with NNN leases. Are offering memorandums usually reliable? In multifamily they can be highly inaccurate but I don't see where they can be wrong in commercial with NNN leases, other than vacancy.

I know going through the existing leases, inspecting deferred maintenance, terms of what the landlord is responsible for, and underwriting the existing tenant's business' ability to repay are all important. 

Are there any hidden expenses that can play into owning NNN leases? For instance, in multifamily repair expenses and vacancy/turnover can come up easily and will kill cash flow. These are some things that came up for me and made me want to jump ship to NNN leases.

What are some situations where NNN investors can get caught up and lose cash flow, such as deferred maintenance. I know an unforeseen vacancy can be a huge issue.

Or am I overthinking this and is it truly hands off, I can count on the rent each month as long as its occupied, and tenants are responsible for CAM and repairs. 

Do I just need to manage the property management CAM, accounting for the income and NNN reconciliation at the end of the year?

Sorry if this is unclear, it just seems like theres a lack of information out there on commercial. If anyone could point me in the right direction I would really appreciate it.