It feels like proof.Real experience.Documented track records.Scar tissue.Clear explanations of what went wrong, not just what went right.In real estate, the conversation is shifting from how well something is marketed to how well it has performed across time, stress, and change.

We run early screens one way, then tighten everything once we know the asset.If helpful, we’ve built underwriting templates and deal screens specifically to stress-test high-tax markets like MI and flag whether the problem is pricing, expenses, or lack of a value-add lever.

I have a high income but I can't take the stress.

IRS audits and penalties: Studies that are poorly conducted may be full of unsubstantiated assumptions and errors that can lead to expensive audits and large financial penalties from the IRS.Long-term issues: Dealing with IRS audits and having to correct inaccurate studies can be a drawn-out, stressful and expensive process.

If you stay conservative, clearly separate each phase of the deal, and stress test the numbers, your model will serve you well and keep you out of trouble.

Because of that, I have seen investors spend more time underwriting multiple take-out paths and prioritizing flexibility over headline pricing.It would be interesting to hear how others are stress-testing exits when the asset is operationally improved but the lender’s criteria has not fully caught up yet.

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

I'm also in the process of getting my real estate license to help generate additional income to help decrease the time required to scale. 

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