Quote from @Erin Ngo: After 12 years, it's exceeded the life expectancy and is due for replacement.Personally, I'm cautious any time a Tenant lives in one place for that long.

Scott, that is exactly the reason and I've thought about that.Jeffrey, at this point I realize that and I'll be much more cautious next time.

As an investor I would be cautious of ones that are heavily front loaded, but don't have a problem with some upfront fee.Good luck Kevin

Be very cautious when investing outside of your market.

I would first tell you to be cautious when investing outside of the market that you know (your local or state level).

This is a sound investment. but always step cautiously in any investment.

BE VERY CAUTIOUS with a letter of intent - - they can be viewed as binding and enforced.Please see this discussion on the subject and READ it all.Letter Of Intent(btw; all LOI are commercial as they have no relationship to the property to which they are being offered to.)

Time to be aware, cautious and careful with your decisions.

I'd proceed cautiously. 

Seller/Tenant selling as he has another property which he wants to develop and lease out ( Not necessarily I believe this, but my point is to rightly analyse this, and be cautious enough to not invest Incase this is huge risk or not to miss the opportunity Incase this is a gem - and this is where am struggling.)