I'm now in panic mode because I just got a 1 review, which wiped back over 3 years of progress.

Looking to create a general framework for evaluating deals.

Tightening focus, protecting capital, and sharpening underwriting is progress—even if it doesn’t feel like it in the moment. 

When reviewing a note deal, what are the first things you check before diving deeper?
Trying to understand how experienced investors quickly assess opportunities.

You never know when they'll require a special assessment, and whether the HOA management is accurately evaluating whether they need a special assessment.Some states require that a seller selling a property with an HOA provide a slew of information about the HOA before the buyer closes on the property. 

More cost-effective modern substitutes are the norm.Because of this, replacement cost coverage should be evaluated on a property-by-property basis.

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

I recommend sitting down and really digging into the numbers—look at all your costs and re-evaluate your long-term plan.There is a growing trend toward mid-term rentals and rent-by-the-room strategies.

Quote from @Michael Vacha: @Stuart Udis accidentally posted this on the wrong response but I want to hear your thoughts as well  I agree that events do happens, that's why I am learning to midigate the effects of that with underwriting future expenses into my evaluation, while not perfect it will allow me to have reserves to handle those things over time and as I reach an acceptable cash reserve for each deal I can re apply that percentage of monthly cash flow to anything and when I use the reserve build it back up.

I'll network with other investors and make some progress with my process.