I have done many more since then and over the years, have had my successes and my failures including 6 figure losses.

Each daily failure to pay such additional rent shall be a separate event of default.

If your going to war you look at past battles to learn from the successes as well as the failures so you can avoid the mistakes others have made and use the things that were successful.Any market that we will see has happened before.

In terms of landlording to a bar, I wouldn't jump into a business relationship with one of the highest failure industries out there.

Failure to pay.

Read my post to another new person, about calculating their risk of failure. 

I was going through their guidelines and noticed this line : "If Purchaser fails to perform under the Agreement,repudiates the Agreement or otherwise prevents the performancethereof by his own action (including failure to (1) providerequired documentation for any mortgage loan, or (2)because of any material willful overstatement of his cashor net worth in any mortgage application ), Sponsor may ,at its option, cancel the Agreement and retain up to 10%of the total purchase price, plus all monies paid foroptional extras installed , as liquidated damages."

You don't want to open yourself to a lawsuit for failure to disclose material information about the property.

Define failure.

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.