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

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

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

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

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

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. 

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

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

If you could visualize a realistic first deal, what would that look like? 

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