Buying Multi-family with non-profit leases

[Dave Wilson]

While browsing properties for sale on Loopnet, I came across a few 8-16 unit buildings in the Milwaukee area that all the units are currently leased out to local non-profits. While the some-what guaranteed rent check every month does seem to have its appeals along with the 11-12% CAP based off the numbers I ran, I am curious what the down sides to buildings like this are?