You probably didn't think you'd hear this as a business owner. Most buyers worry about EBITDA adjustments and customer concentration. AO bought a property management company. Contracts. Recurring revenue. "Sticky" customers. Two months in, sales tanked. He called a meeting to figure out why. His sales team's answer? "You cut the go-go bar budget. That's how we were selling." That's not in the CIM. This is the stuff nobody warns you about. The deals where the business model is held together by things you'd never think to ask about like bribes. redacted