Buy good quality things once rather than poor quality and pay multiple times to replace it.

You haven't given many details so it's difficult to give you a quality answer for your situation.

They've placed a tenant just recently so it's too early to tell the quality of the tenant.Hope this helps!

Take for example the lack of productivity where construction projects often experience time and cost overruns, rework or quality concerns. 

Plus, it gives you more control over quality and timelines.

Buy quality, if that means every 2-4 years not annually so be it.

That could mean poor tenant quality, which could lead to them not paying or eviction.

Sponsor quality far surpasses the "deal", assuming a qualifying criteria for a "good sponsor" is that they don't buy crappy real estate deals to begin with.Having said that, if a great sponsor is offering a deal you don't like for some reason, don't invest in it--just wait for the next one. 

If you flip your flooring upgrades and appliances will probably need to be of higher quality vs a rental.

Course of prior conduct may be used to determine what constituted acceptable quality.