Exit strategies or exit triggers?

[Matthew Brand]

A lot of advice on BP says to create an exit strategy before diving in deep. When I look for resources on this it's all different forms of how to get rid of the properties. To me, that's less important than knowing when to exit. I'm more thinking about it as exit triggers instead of exit strategies. I'm thinking it could be something like "sell the property if I'm not able to have break even cash flow".

Does anyone have any advice on when you should plan on exiting (other than death or retirement)? Are there any resources on BP that I'm not finding? How important is it to define this before diving in?