The main principles being A. don't measure success or failure based on making money, base it on making the mathematically correct decision  B. know the numbers and probabilities, there's no such thing as certainty and C.  

Your only other recourse would be to go after the seller for "failure to disclose".

Patti you would need to look at your risk exposure.Typically sale leasebacks are much longer than 8 years.With a mom and pop tenant  you would put 35 to 40% down as the likelihood of failure is high versus a corporate guarantee from a national chain.

Failure is not an event.

Failure is not an event.

A few things to remember for your lease:Specify a late fee (grace period is 10 days in CT), and note that payments will be applied to late fees first, before being applied to unpaid rent charges.Specify that toilets/drains clogged from anything other than deterioration or failure of the pipes will be billed to the tenant.

Failure is not an event.

The brokerage can play a huge part in the success or failure of an agent.

Failure is not an event.

And that's when Mike would pounce.Other attributes like tenacity, creativity, the ability to improvise, knowing how to manage and inspire people, being a great communicator, networking, an ability to bounce back after failures and setbacks (and there will be many!)