Where there is smoke, there is fire.  

Been to a couple of networking events but still in the dark about where to start.

I would grandfather them in as "smokers", however I would not allow them to continue to smoke inside the unit or on the premises.

Also if you have a new lease term but at a low cap rate in the 5's will require a larger down payment.The lender matches the down payment with appraised dark value if the tenant does not renew in the option so that the mortgage will be at or not higher than dark shell value of the building.There is a lot to the financing side of NNN and it can make or break a deal.

We took out wood paneling on the walls that had 3 layers of smoke infused wall paper beneath it (really should have just ripped out the drywall...).  

If you don't understand the circuitry and you attempt to take a different path, you can smoke yourself, you'll short out and fail.

On my first rental, I was just out of college and totally in the dark as far as these expenses, I took into account taxes and insurance, but don't forget to save the market %s for vacancy, repairs, and capex.

I have security monitoring through a company  that uses the Qolsys IQ Panel in conjunction with Alarm.com, and this works as a Z-wave hub for multiple products including security, wifi thermostats, electronic locks, lights, smoke detectors, carbon monoxide, freeze detectors, and more in the future I'm sure.

Also lived in the West Loop near the now smoking hot Ukranian Village.

@Justin Prevatte  if the OP has free and clear properties IE the 16 are all owned out right then yes that would work for sure .. subject to finding a lender that likes the collateral and will lend.Small seconds behind large first are just a NO NO in the lending worldfor the very simple reasons you stated.see threads on BP about those that have been doing gap funding on rehab projects and the borrower goes dark and they are fubared.. loss of the entire loan is most likely out come.UNLESS your a loan to own guy.. and if this OP failed you fine stepping in and taking over the whole maryann..