Identify permitted use, access, improvement obligations, termination terms and the rights the enterprise actually receives.
Connect the invoices to enforceable rights
Keep the lease, amendments and construction records consistent. An invoice showing payment does not prove the tenant can conduct every activity in the business plan. Distinguish rights already effective from promised future consent. Obtain appropriate analysis of the actual terms rather than assuming a landlord’s informal reassurance overrides the signed agreement.
Federal and state tax returns for three years, monthly booking and revenue records, guide payroll, boat titles and trailer registrations, the dock lease, the state outfitter licence and every permit, each with written confirmation of whether it transfers to a new owner. Projections carry weight when something outside the applicant's own spreadsheet supports them: booked contracts, deposits already taken, the previous owner's filed accounts and bank statements, supplier and lease commitments, and industry data for comparable operations. The business stack shows what the money is buying and that it is a genuine going concern: three years of financial statements if available, tax returns, the payroll register, customer contracts, supplier agreements, the premises lease, licences and permits.