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Shifting gears a little from my focus on industrials and master limited partnerships, it has been quite some time since I took a look at Aaron’s (AAN). The rent to own world often gets a bad reputation for what many investors feel is a predatory business model that preys upon America’s most disadvantaged. However, there are a number of headaches for Aaaron’s as well: A capital-intensive business model that's real estate heavy, a high rate of delinquencies (bad debt expense), and goods that are prone to rapid depreciation (furniture, appliances, electronics) all combine