100% LTV Credit Tenant NNN Deal

I am looking at a portfolio of NNN bank properties w/ 15 yrs min left on the lease.

I have found a couple sources that will do 100% financing.

The annual debt service is say 50K/yr, and the lease brings in 55K/yr (sample numbers). One would make 5K/yr w/ no money involved. Sounds too good to be true.

Would you do this deal?

Why/why not?

Thanks.

Potential problem would be tenant breaking lease- if you can cover this eventuality (suppose two largest tenants both bailed?) then it sounds like a great deal.

Chris

it's non-recourse financing so if the tenants breaks the lease, I try to re rent and if I can't, I walk.