Airlines showing signs of weakness which translates into weakness for hotels as well.Refinancing will likely be an issue as loans come due.So just like multifamily and office there will be fallout. 

However, I was weak in my negotiation and convinced myself into a bad deal. 3) If your acquiring a distressed property with tenants, overestimate your rehab budget.

However, I was weak in my negotiation and convinced myself into a bad deal. 3) If your acquiring a distressed property with tenants, overestimate your rehab budget.

It's a great example for REI's not analyzing markets correctly, rationalizing their weak analysis, and then chasing that "shiny object of distraction". 

It also helps to develop this relationship early so you can see how the two of you will work together over time and really understand their strengths and weaknesses.

If the latter is your issue, you're not equipped and you're going to tap out in whatever market you invest in at the first sign of adversity cause you're weak.

Some investments start weak and grow more stable/stronger over time "j-curve". 

Sale-Leasebacks have inherent challenges because the tenant/seller is incentivized to market the property in such a way they get they price they want, but if the entity who signs the lease is weak and there's no personal guarantor, they could stop paying rent the day after you close leaving you high and dry with very little legal remedy.I don't know your market, but in my eyes, any 10% cap offering is either an extremely weak tenant OR a tenant that has very little term remaining with no plans to renew.If I were, you I would very seriously consider how much I like the real estate and what my odds would be of refilling the real estate with the same or better rent and/or a better credit tenant once this tenant goes belly up.

I understand the capital region, the Adirondack region, and Western New York (Rochester and Buffalo) have their strengths and weaknesses, but I'm going to focus on this central part of the state.Binghamton is my favorite investment market for a few reasons, but it's not for everyone.STRENGTHS-  low prices-  blue collar overall, meaning lots of resources for contractors-  growing university, consistently growing rents-  I expect to see an actual 10% cap rate here, higher if the property needs work-  compared to downstate, permitting, evictions, etc. are simple and quick-  no code compliance inspections required on existing multifamiliesWEAKNESSES-  no. natural. appreciation.

This is a rather weak argument at this point.