After walking it, there were clear signs of settlement and structural issues, outdated plumbing and electrical, plaster walls, etc.

But overall, your framework is the blueprint when your systems are tight, scaling really does start to feel boring in the best way. 

The BIS, bank of International settlements, will allow banks to hold up to 1% of its reserves, in bitcoin. 

Treasury yields are a little higher, but yesterday’s “sell America” theme continues to drive stocks lower; the DOW is currently down 321 points.Addison, Allen, Anna, Azle, Batch Springs, Bedford, Benbrook, Burleson, Cedar Hill, Celina, Cleburne, Colleyville, Coppell, Corinth, Crowley, DeSoto, Duncanville, Ennis, Euless, Farmers Branch, Fate, Flower Mound, Forest Hill, Forney, Glenn Heights, Grapevine, Greenville, Haltom City, Highland Village, Hurst, Keller, Lancaster, Little Elm, Mansfield, Midlothian, Mineral Wells, Murphy, North Richland Hills, Prosper, Red Oak, Rockwall, Rowlett, Royse City, Sachse, Saginaw, Seagoville, Southlake, Terrell, The Colony, Trophy Club, University Park, Watauga, Waxahachie, Weatherford, White Settlement, Wylie, Dallas, Fort Worth, Plano, Irving, Garland, Grand Prairie, McKinney, Frisco, Mesquite, Carrollton, Denton, Richardson, Lewisville, or Arlington

Either the cap rate is higher, or the NOI is less reliable, or both.So your valuation math is right, but the 7.3 percent cap rate might not be the right input for this exact building.3) Your DSCR back into price is also mostly right, but make sure you are using lender NOIYour logic is:Max debt service = NOI ÷ DSCRConvert that payment into a loan amount using rate and amortizationConvert loan amount into price using LTVThat framework is fine.But lenders often underwrite DSCR using their own NOI version.

All very helpful comments and a great framework.

@Jason Malabute provided a great framework for what you should be asking. 

Add to that a progressive income tax framework that steps down as the state hits defined financial benchmarks — with a clear path toward zero over time — and the long-term math starts to look very different for operators and investors.Layer in financing conditions, too.

You should conduct additional research before making any mortgage related decisions.Addison, Allen, Anna, Azle, Batch Springs, Bedford, Benbrook, Burleson, Cedar Hill, Celina, Cleburne, Colleyville, Coppell, Corinth, Crowley, DeSoto, Duncanville, Ennis, Euless, Farmers Branch, Fate, Flower Mound, Forest Hill, Forney, Glenn Heights, Grapevine, Greenville, Haltom City, Highland Village, Hurst, Keller, Lancaster, Little Elm, Mansfield, Midlothian, Mineral Wells, Murphy, North Richland Hills, Prosper, Red Oak, Rockwall, Rowlett, Royse City, Sachse, Saginaw, Seagoville, Southlake, Terrell, The Colony, Trophy Club, University Park, Watauga, Waxahachie, Weatherford, White Settlement, Wylie, Dallas, Fort Worth, Plano, Irving, Garland, Grand Prairie, McKinney, Frisco, Mesquite, Carrollton, Denton, Richardson, Lewisville, or Arlington

It sounds less like relying on “one funnel” and more like having a repeatable framework that lets you evaluate opportunity wherever it shows up.Out of curiosity, with that many acquisition channels in play, what’s been the biggest limiter lately — volume of qualified leads, time to properly underwrite, or just filtering signal from noise?