Before buying a property, price in the cost and time of zoning variances. Demand 24 months of occupancy data from the seller. If summer occupancy drops below 55%, check whether competitors are softer too. Get a lawyer involved early on vehicle liens.
Chapters
If a variance, uh, is a variance required for zoning, not an automatic walk, but price it into the deal. Variance processes are slower, less predictable, and carry neighbor opposition risk. Get that risk priced into the acquisition. They have no seasonal occupancy data. That's a red flag. A seller who can or won't provide 24 months of monthly data is either disorganized or maybe hiding something. Negotiate harder and make that data a DD condition before you release your earnest money. If the summer occupancy is below 55%, investigate before you walk. Is this a market-wide issue or a facility-specific problem? Competing facilities performing better in the same market tells you it's operational. Competing facilities equally soft tell you it's a market problem. And then vehicle lien law without a qualified attorney. Don't, don't close without one. It's not a walk, it's a delay. Find the right attorney before the close date, not after.