I would stress the bear and food safety issues more for future guests though,  save yourself and guests from any future damages. 

In real estate finance and note investing, stress-testing generally refers to evaluating how a potential investment would perform under adverse conditions rather than only under optimistic assumptions.

Btw, due to health issues my wife is getting a new job, less stress but bit less pay as well.

If the numbers don’t work locally, forcing a deal usually creates stress instead of momentum.

Which lines up well with the Dion McNeeley philosophy you mentioned.If you’re open to it, I’d suggest:Comparing one Chicago deal vs one new-market deal side by sideUnderwriting both with the same conservative assumptionsLetting the math (and stress level) make the decision for youHappy to connect if Memphis ever moves onto your shortlist or if you just want a sanity check on assumptions.

I’ve been analyzing the OpEx challenges for Class B and C workforce housing in our area, specifically regarding the rising insurance premiums and deductibles.I recently pivoted my business model based on some advice from a heavy-hitter syndicator, and I wanted to "stress test" the logic with local DFW/Fort Worth operators to see if this resonates with what you are seeing on the ground.The Pivot:Originally, I was trying to pitch "Smart Home" water sensors as a tenant amenity (trying to charge tenants fees).

One thing I’d stress before zeroing in on markets is making sure the exchange actually improves your risk-adjustedreturn, not just headline cash flow.If you’re netting $600k and already cash flowing ~$3k/mo at very low LTV, the biggest risk I see in 1031s right now is trading into a “cheaper” market that looks better on a pro forma but introduces execution risk, management drag, or thinner exit liquidity.The deals that seem to work best in this environment are:Smaller multifamily in working-class areas with stable employment anchors, not speculative growthProperties with light value-add where in-place rents lag market slightly, rather than heavy repositioningMarkets where cap rates actually hold up on refinance and sale, not just on paperI’ve seen investors do well focusing on secondary markets with hospital, logistics, or university employment bases where pricing is still rational and management quality matters more than rent growth hype.

Market value decreased while renovating.

Is the sponsor working with a relationship based lender they have gone round trip with before especially through adversity which is actually a positive or are they relying on expensive debt because the deal or the GP does not qualify which is a major red flagFixed versus adjustable rates and length of runway including term length extension options and whether the deal was stress tested across different rate scenariosReserves and contingent funds and whether they are real and sufficient or merely cosmeticEvaluation of how sources and uses are being allocated and whether the capital stack fully funds the business plan or leaves gaps with a "we will figure it out later mentality"The fund that I invested in with ODC actually has fixed rate debt, so there was not a similar learning point, although the ODC fund is also performing terribly.The reason has more to do with rent growth. 

That's less costly in time and stress than going it alone as a novice.