@Christina Hall All of my rentals are below $500K purchase prices and therefore qualified for "modeling cost seg" which is a much cheaper (like $400 range), report which accomplishes the same goal.  

If not, it's generally worth having the advice and expertise of someone versed in offers/transactions to help prevent mistakes that could cost you a lot more than that. 

@Evan Rice Underwriting sober living is definitely a bit different than standard rentals since you’re usually looking at rent-by-the-bed and factoring in staffing/oversight depending on the model.

.- alternate rent models such as STR, MTR, rent by room.  

Our job is to find ways to damage the deal by stress test occupancy rates and exit cap rates to ensure we can cover our debt service, even in challenging scenarios.Underwriting deals involves different stages, and I recommend using a model or spreadsheet to streamline the process.

This led us to convert 3 other properties to that model.  

Part of our modeling now.OP.

Quote from @Steven Vargas: Quote from @Robert E Bogino: This is my main model. 

“I’ll lose money on hidden or unexpected expenses.”Regular financial reporting, full disclosure of fees, and proactive maintenance planning make expenses predictable and transparent.Out-of-state investing doesn’t have to be risky — it has to be planned.The right systems, communication channels, and local expertise can turn what feels like a gamble into a scalable, stress-free investment.If you’ve been considering expanding to new markets but aren’t sure how to overcome these challenges, I’d love to discuss your concerns and share what’s worked for other investors.

It’s great that you’re here to both share your expertise and learn from fellow investors.If you’re open to networking, I’d love to connect and hear your insights.