I hope to be under IOI for roughly $6 million business next week and LOI shortly after.

The capital structure requires no outside equity as I will use SBA debt, seller note, and a personal equity injection. The bank underwriting recently underwrote this exact business. Still, it didn't close as the last buyer walked for a bigger transaction, so the bank is comfortable and familiar with the credit, which should make that process more efficient.

For context, the business is in the service industry, with about 100 employees, 100 customers, and few tangible assets. Revenue is ~$4.5 million, and SDE is ~$1.5 million. The business has a long history and is family-owned. There is some customer concentration but a long track record of customer retention.

I work full-time on an M&A team for a large corporation with standard hours most of the time unless a deal becomes urgent. In addition, I don't live near the business I hope to buy- it requires a flight to get there within a reasonable time. Thus, meeting the owners in-person on a regular cadence will not be possible. I work from home on Mondays and Fridays and should be able to host meetings with the owners and 3rd party consultants/ lenders in the mornings. I plan to engage a QoE provider and legal team.

Has anyone kept their FT job during diligence? If so, how was your exp.? Any recommendations/things to avoid?

When did you eventually quit your job? When did you start prioritizing the deal over your FT job?

For anyone who bought a business far away, how many times did you visit the business/owners in person?

How did the eventual move go? My wife will probably stay in our current city for some time while she tries to find a replacement job, and we will also have to sell our house once she moves, which will probably be stressful. Any advice on that end?

Lastly, I am curious at what point you engaged QoE and Lawyers and how much you spent. Any diligence GANNT charts or timeline materials would also be helpful.

Thanks in advance.