Prices are very competitive, especially for larger projects that require this level of accuracy and audit protection.  

If not I move on.if it does, I go deeper.

That focus pays the bills.But continuity, the ability to generate income across cycles, comes from understanding value at a deeper level and being willing to step outside the standard “ARV minus repairs” playbook when the situation calls for it.Most people tried to sell a structure.We sold dirt.And on the call where I guided the buyer through paying for the assignment, he mentioned he and his wife are building a trailer park and need help sourcing more land.One deal turned into a dedicated buyer.When I first started, I was introduced to the 1-1-1 method: one target market, one marketing strategy, one property type.

So here I was, trying to convince the tenants that the person collecting rent for the last few years is no longer relevant and to start paying me all the while the PM was convincing them otherwise, talk about a whole new level of fu*kery to overcome.

Brett, this is a really good question and you’re not wrong for thinking about cost versus value this early.Here’s the simple tax perspective: with one rental and a W-2 job, you likely don’t need a high-level “tax strategist” yet.

If you are going to use a rough number before digging in deeper I would use a 55%-60% rule of ARV to purchase the property, then start to pull comps, and then once you are feeling this is going to be a good one get your GC to bid it.

That experience has really pushed me to start building my own portfolio.Right now I’m focused on:Learning how to analyze deals at a deeper levelConnecting with local investors in the St.

The millage rates vary wildly.For a 'Level 2' Napkin Analysis (before full underwriting):I recommend moving from Cap Rate to Net Monthly Cash Flow as your filter.

To me, it feels more like a market that rewards patience, conservative assumptions, and knowing your market well.I wrote a longer piece laying all this out in more detail if anyone wants to dig deeper, but I’m genuinely curious what others are seeing.How are you thinking about leverage and underwriting heading into 2026?

It is about understanding risk at a deeper level.