I want to truly understand:How to evaluate ARV and rehab costs realisticallyHow experienced investors underwrite dealsWhat actually makes a deal work for the end buyer I’d really appreciate advice on:What you wish you understood before your first wholesale dealCommon mistakes new wholesalers make when underwritingHow to best position myself now to smoothly transition into BRRRR  I’ll take any book or podcast recommendations too. 

20 Questions to Ask When Vetting a Property Management Company: Processes13 Questions to Ask to a PMC: Communication and Documentation24 Questions to Ask When Evaluating a Property Management Contract

You are the only one holding the bag.What My Agent and PM Didn't Tell MeI was in the process of evaluating a PM contract when I discovered all of this.

If you do not account for that, your actual returns will underperform your model by a wide margin.What is your framework for evaluating deals where the thesis depends on rent growth?

I excited to get going but plan to exersise tactical patience while evaluating varius deals.  

Always evaluate deals based on total return including depreciation benefits not just monthly cash flow.

I also spend time mentoring newer investors, and a lot of early progress comes from having a clear workflow.

A HELOC keeps optionality, especially if you’re still evaluating repairs, a potential tenant buyout, or future redeployment of capital.A couple things I’d check either way:Whether the rent comfortably covers payments under conservative terms, not just today’s rateAny call risk, rate variability, or draw restrictions on the HELOCHow much liquidity you want to keep available if another opportunity pops upIn situations like this, I often see people start with a HELOC for flexibility and then term it out into a mortgage once the picture is clearer and the value is fully supported.

I run a co-investing club where we evaluate opportunities like this together and do deep-dive vetting calls before making commitments.

20 Questions to Ask When Vetting a Property Management Company: Processes13 Questions to Ask to a PMC: Communication and Documentation24 Questions to Ask When Evaluating a Property Management ContractThanks for the 3 posts.