I had a project where the old galvy failed 5 days before the new tenants moved in, the plumber dropped everything and repiped the place in 2 days, was totally ready for new tenants!  

I was in Russia when a rental of mine failed a Section 8. 

Things you must not doYou must not;i) Commit an act of bankruptcy; or fail to pay me on time any money you have to pay me under this contract; orii) Pay any repayment/s with a check, direct debit or other instrument that is subsequently dishonored by a bank; oriii) Fail to comply with any condition of this loan contract; oriv) Make any material false or misleading representation.6.

If yes, what should I do if I bought a property with a lifetime lease but the previous owner failed (intentionally or unintentionally) to disclosure to me?

One of the factors you choose their offer was the time listed and they have failed to deliver.

Also, a lender should never influence the business of a borrower, limiting their ability to borrow or make any business requirement.......because if they fail it will be on you.A private lender is one who makes a loan to someone they know, where there is` a prior business or personal relationship.

Generally if it is failing you will know. 

That means they could last several more years or each fail this first year. 

If you fail to collect sales tax and they require it that will come out of your pocket.

They fail to see the fact that not everyone celebrates Christmas.