I would also build in some extra vacancy factor into the first year to allow for renovation time as well as lease up time post renovation.

Recommend addressing this upfront in your ads and initial contact with a potential client.

Paying for it up front is very costly not just due to the extra dollars paid up front but because of its negative impact on all returns for the life of the loan.  

Incentives & Redundancies Reduce BurnoutAmerican Airlines offered double pay and extra hours to get the crew back in position.In property management terms: build incentive structures for your on-call teams, use rotation systems so the same maintenance technician isn't pulled 24/7, and cross-train staff, so you're not reliant on one person for critical tasks.When you prioritize team sustainability and flexibility, you recover faster and maintain service quality.4.

You may decide they’re great and worth keeping, or you may realize you’d rather have them out than chase a little extra rent, because bad tenants cost way more than they ever pay.

Spending time underwriting a lot of deals in a few submarkets first tends to surface where numbers actually work versus where they just look good on paper.For long-distance investing, I’ve found it helpful to be extra conservative up front — realistic rents, higher expenses, and asking how forgiving the deal is if something goes wrong while you’re not local.

The combination of this method with your upcoming investments in affordable markets and value added projects will help you achieve maximum cash flow expansion.Good luck!

**On the agent question:** Most agents won't knowingly work with someone doing a standard assignment because their commission depends on the deal closing, and they see assignments as added risk.

Love what you’re building — you’re basically turning ChatGPT into a portfolio analyst.Here’s how to improve your prompt without adding complexity:1.

From there, you can gradually build a trusted network as you continue adding properties to your portfolio.