Action step: pick one submarket, run five deals a week through a strict buy box, and only pursue what survives your worst‑case sheet.

There are a LOT of operators that are scrambling at the moment, and dont come close to our buy-box, however I do invest with 3 larger operators (BAM is one of them), and overall I still believe their underwriting is sound and viable.Im not at liberty to discuss details, however I see some good things on the horizon with this group.

Once the asset checks all boxes, you need people to do the work. 

As long‑distance buyers, set a tight buy box (2–4 units, C to B areas, light‑turn), then underwrite income‑first: confirm realistic rents with two PMs, plug full expenses, and pass if it doesn’t cash flow on conservative numbers.

If new deals in your buy box still cash flow conservatively with today’s rates and taxes, add one, but if not, focus on debt paydown and efficiency until they do.

Third, refine an investor resume with your buy‑box examples, sample deal analysis, and a 60‑second intro; send it after every conversation.

That way it still qualifies but doesn’t box me in.Your point about Midwest markets makes sense — I may use part of the cash-out for a more traditional cash-flow play out of state while keeping my California asset long-term.

I also allow checks to be mailed to PO Box, but will be stopping that.

We tested a conditional guarantee with a few clients, but found it attracted people like the one who posted above that attempted to check off the boxes in the guarantee instead of completing our training, joining our zoom calls and letting us guide them on their commercial investing journey.

Pick one clear buy box for small multis, lock 2–3 cash‑flow markets, and build your Core Four there fast with quick test tasks to vet an agent, PM, and contractor.