While I’m comfortable with residential numbers, I’d love to connect with someone who can help me double-check the underwriting to ensure I’m navigating the transition to commercial correctly.Here is a quick snapshot of the deal:The Asset: 5 buildings (approx. 23,000 sq ft) sitting on 4.75 acres.The Price: $1.5M.The Terms: 3.5% interest-only seller financing.The Upside: A clear value-add play through rent stabilization and using the excess land.The 3.5% debt makes this a very compelling entry into the asset class.

Hi, I have inherited some rental properties so new to being a landlord and looking to spin up some efficient systems quickly (different than the paper checks my parents collected each month :-) ).  

It positions you as a true partner, not just someone opening doors and submitting offers.The real value-add is efficiency - helping investors quickly eliminate bad deals and move confidently on strong ones.

The value of proximity shows up in operational efficiency and management control, not necessarily in appraised value.

This is just ensuring you are getting a good deal in case the MTR biz doesn't work out for whatever reason..I think that there is a lot of competition in the MTR & STR space, but can still very on the area, location of the property, pricing, condition, amenities, and so much more.

Financing & Carry Costs: ~$185,000 (~7%)Bank Fees: $62,530Interest Reserve: $103,521Prepaid Interest & Closing Costs: ~$10,000Escrow / Title / Broker Fees: ~$18,000Quick TakeawaysAll-in cost: ~$232K/unitHard cost efficiency: ~$219/SF (very solid for this product)Soft costs + financing: ~20% of total (tight, not bloated)Contingency + reserves: ~$165K built in

This means there are no checks and balances to ensure all transactions are entered correctly.

I am also working on setting up my vendor/referal list, buyers list, and getting an efficient process down for finding distressed properties. 

@Christopher JonesWholesaling is a good option for getting started, but can really vary per state you are doing it in.For example, if you're in Oklahoma - it is almost more beneficial to ensure you are licensed because of all the predatory wholesaling protection laws.

PL's need to ensure that they protect their money by vetting REI's just like a landlord will vet a tenant.