This turned out to be a mistake since the rehab ended up taking 2 months and he underquoted me for the work.

It's common to be scared of making mistakes and sometimes you have to do things when you're scared.  

@Lauren DiMeoRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

This amount is expected to be paid 1/2 upon Lease Execution and 1/2 upon Tenant opening for business so generally speaking, the entire expense would be incurred within the first 12 months of the Lease term and is not something that is paid out over time as the tenant pays rent.While this is by no means intended to be an exhaustive list of all things Triple Net, I hope it helps someone looking to get into the space for the first time and maybe save one of you from making a terrible mistake.

DISCLAIMER: I know I made several mistakes leading up to this point, and this is mostly my fault.

I recommend spending some time educating yourself on how to analyze properties to prevent you from making the same mistake again.

I made the mistake of taking the tenant at their word, and they repeatedly were late on payments.

Their false promises, inefficient processes, and overly complicated application requirements have been a costly mistake.

@Brooke Roundy rookie mistake not having a no smoking clause in your lease.Why isn't this covered by your PMC's lease?

You might make a few mistakes a long the way but that's okay!