Is the percentage rent from restaurant sales baked into the income that makes the cap rate look more attractive but isn't actually stable, secure income over the long term?

The loan caps vary across lenders, across experience buckets, across asset valuations but 70% - 75% is standard.9mo note at 12.99 i/o - Most say "12" months and then bake in a fee if it goes longer than 9 months.  12.99 is high. 

While not ideal, this was expected and I baked that risk into my objectives. 

I would find yourself a better inspector and bake these things into your deals or walk away. 

Most tenants already understand that some of the utilities are covered by the landlord, who in turn will bake it into the rental rate. 

If you can find ways to save them money on their taxes, they will help and teach you.Most people looking for mentorship now don't know what value they can offer, but yours is baked into your profession.

In essence, this and dozens of other attributes are all baked into the cake long before I come close to acquiring it.

The cost per booking is baked into the guests charge of staying at your STR and if damage is done the item(s) are replaced or fixed at no charge to the host.

They called back & said no problem they had another friend bringing the Arm & Hammer Baking soda.

But the nice thing about a commercial property is that you do have control over the value of the property. buy-out costs have to be baked into a business plan along with a clear understanding of what the property can produce over a given timeline. $2.2M for 12 units could be a really good deal in a good location with the right plan or it could be money pit and the end of an investor if it is in the wrong place or a bad building.