Since we have not had to file a tax return for the LLC, we have not talked in depth with out regular tax guys at all yet. 

The 10% is good for regular maintenance but when the roof, the HVAC or the plumbing goes you had better have some capital reserves.

Vacation rental should be treated the same as a regular rental since in a sense they both are considered investments.  

What happens when you run out of food, and your grocery store runs out of food, and the power goes out?

Now single tenants charges above market per sq ft lease rates and if it goes dark likely your second generational tenant will not pay those rates.So if you buy at a 6 cap to 6.5% based on say a 35 sq ft rate for a good area and they go dark and it drops down to 25 sq ft for the second tenant going in you now have a crappy cap rate lower than your debt interest rate.Now if you have a corporate Steak N Shake there is more security as it doesn't matter if the store is losing money all the corporate stores prop it up guaranteed by the lease versus a small franchisee that takes a bath after one to two years of opening.I have decades of restaurant experience and after reviewing the FDD ( franchise disclosure documents) a few things became clear.

Do y'all have a regular meet up?

An investor I know is under contract to sell a rental house of his for a national drug store and a bank location. 

Check Homepath regularly, or an agent can set up their own alert so they are notified immediately.  

Banks want to make sure you have enough income to service all your debts plus regular living expenses.

Being a chef, Bourdain was shocked that there were no stores or supermarkets within a reasonable distance of the areas he visited, but there were several fast food places that managed to stay in business.Until there are jobs for people to try to make their life better, then there will be no revitalization.Even as most folks write off those areas, there are people who still try to get some sort of positive forward progess and that is what is good about the US.