First time purchasing restaurant NNN due diligence and site visit

[Rina Amir]

When purchasing a NNN restaurant what do you look for during due diligence and visiting location?

I know we'll do Phase 1. We'll get financials from franchise few years back (how many years to ask for? They have been on location many years, it's a lease back). What else? When visiting location what do you look for? 

Also, How important is it to have a detailed LOI? Since seller will most likely counter with their own LOI.