My real purpose of the thread was to see if I am on the right track though and advice on things I should be looking out for to tell if the investment is good or not.

A track record for success.

I think it is probably worth our time to track it down.

There are a number of qualifications we look for in an applicant such as: Leadership or Managerial ExperienceHospitality/Food/Retail ExperienceInvolvement in the local communityCustomer Service ExperienceFinancial StabilityPassion for the brandProven track record of successBusiness SavvyTwo Partners**Please note Tim Hortons franchises only to individuals who will be hands-on operators, not to corporations or passive investors.

The universal cause seems to be they get "off-track" with their "Coach".

It has definitely helped my thought process and put me back on track to listening to what the numbers are telling me.

I feel it's the best way for me to track if the rent is paid ON time every month. 

Establish a track record of successfully flipping homes. 

My business partner and I have the inside track on this particular deal because we have a friendly relationship with the current owner. 

You did mention a few of the most common/easiest ways to find a property, but you could also start trying to track down any of the owners of these commercial properties you are seeing.