NNN investing out of town/state
I would like to see what others thought about the wisdom/perils of investing out of area for NNN lease type investments. Assuming a landlord could secure an investment grade tenant for a long term lease (true NNN with strong guarantee), conventional wisdom seems to suggest it should not matter too much if the property was several states away. I presently am exclusively a multifamily investor in my immediate geographic region, but cap rates have compressed so much in multifamily and nothing too compelling has come on line locally. I would like to consider adding a NNN lease to my portfolio and would just like to see if there other variables that I haven't considered regarding the out of state question. Thanks.