It is not secured by the business, which is a very specialized franchise (no guarantee a foreclosing entity would be approved as a franchisee by the franchisor, among other complications).

I will hear back from the seller by Wednesday morning.A NEW complication has arisen: a great short sale property has come on the market this evening that is a better deal even at $100,000 over asking than the property for which I have submitted.

I know the rules on syndication is very complicated and very specific but I don't know what constitutes the difference.

@Clayton Crouse thats a very complicated question and givin the strict regulations on these types of transactions you should rely heavily on a good CPA who know this sector of the business and the laws that go along with it. 

@Sean Ryan I'm sure they can build on it, but it's complicated without any experience in that arena.

Wet it, scrape it, re-texture & move on.Not to complicate matters but since we are on the topic of environmental concerns, if you are not already aware, you should educate yourself on the federal EPA "RRP Rule". 

Maybe an LLC where you are both members.When you get to more than a few people investing, you enter syndication territory, which is very complicated (and expensive).

However, you also live in Worcester County, which further complicates things.

That's okay, but it brings complications for an out of state investor.  

@Jordan Lane the premise of a business owning their real estate can be complicated but it is way too simple to state it is always better for a business to lease.