@Delmas Edwards AVM (Automated Valuation Model) is an mathematical model that analyzes properties based on comps.

And compared to most we can be patient since my wife and I have full time day jobs, we don't absolutely need to keep doing deals to put food on the table.By design our business model is to have properties with fully amortizing debt. 

I'm not sure how I'll ever find a deal if this is the financial model I use.

Or are you still in due diligence mode and need to know what to ask the owner for so that you can properly evaluate the property / deal?

It can be the business is either being mismanaged but doing well or the business model is dying off or both.Could the tenant sell the business to an operator with more experience and net worth or bring in a partner that buys so much interest in the company?

I've built a financial model I help other investors analyze deals (the BP calculators are great as well), so if you ever need help let me know.

My whole model is to buy distressed, rehab, then have the property appraised for more than I paid and then refinance as fast as possible? 

I always tell people that the true Multifamily business model is not intuitive like single family is.  

Also assuming the business model is the same (restaurant for example), and they're both somewhat healthy. 

Even if you are buying it from the seller directly, there will be a sale purchase agreement and the mode of transactions will be considered as a purchase deal.