Then still compare those rents to market, because inherited rents can be below or above market.Convert comps into a realistic rent numberTake your comps and group them into three bucketsInferior, similar, superiorAnchor your estimate to the “similar” bucket, then adjust up or down for key drivers like parking, in unit laundry, renovated kitchen, and separate utilities.Use a conservative number for your underwriting, then optionally a “market rent after light rehab” number as a second scenario.Underwrite expenses properly, this is where beginners missAt a minimum includeVacancy, 5 to 8 percent depending on the submarketRepairs and maintenance, often 8 to 12 percent of rent on small multisCapital reserves, another 5 to 10 percentProperty management, 8 to 10 percent even if self managing, so you can compare deals consistentlyTaxes, insuranceWater sewer trash if owner paidLawn and snow if owner paidLandlord paid utilities if anyUse two quick valuation checksRent based checkCap rate or NOI multiple is less reliable on small residential, but it still helps you avoid overpaying based on rent.Sales comp checkCompare to similar duplexes and small multis that sold recently, but the rent numbers are what will decide if the deal works for you.Run the deal through a one page summaryPurchase priceEstimated market rent per unit and totalTotal monthly expenses and NOILoan terms and monthly paymentCash flow after debtCash on cash returnDSCR if you are using DSCR financingI hope this helps.

For example, an eviction for you might involve not only the court costs, but travel costs to make multiple trips back to town, plus vacancy, repairs etc. 

I’m deliberately early in the process and want to pressure-test assumptions before committing capital or geography.If you’re actively developing, operating, or investing at this scale and are willing to share perspective—publicly here or privately—I’d appreciate the insight.

Tracking rehab costs, splitting personal/business, reimbursables, multiple properties, or something else?

If you have multiple tenants, each can access the platform and pay rent or keep up on what is paid.

This is extremely valuable to an owner who is juggling multiple things.

These same tenants have made multiple other complaints and submitted this rental checklist late.thanks,

Hi Andrea, great post.I work as a virtual assistant with multiple investors (fix & flip + rentals) across different U.S. markets, and I’ve supported a few clients specifically in upstate New York, including the Capital Region.From what I’ve seen while underwriting deals, pulling comps, and coordinating with agents/contractors, Rensselaer County definitely stands out—but for a reason that’s easy to miss: good deals move fast, and bad deals sit.

Hey everyone — looking for some real-world advice from investors who’ve been through a few cycles.I’m in a position to buy my first (or next) serious deal and want to pressure-test my thinking before committing.My situation / flexibilityBudget: Under $400kLocation: Anywhere in the U.S.Strategy-flexible:Section 8Market-rateDuplex / triplex / 5–10 unitSeller financing / creativeValue-add or stabilizedWhat I’m optimizing forCash flow matters — I want the deal to stand on its ownThat said, I don’t want to park capital in a market that permanently lags inflationI’m not chasing appreciation-only deals, but I also don’t want to be stuck in areas with no long-term upsideA middle ground between strong cash flow and reasonable appreciation would be idealI’m okay with operational complexity if the returns justify itLately I’ve been seeing:“awkward middle” deals with real risk but thin upsideCash-flow markets that look great on paper but feel capped long termBetter areas with returns that only work if appreciation bails you outMy core questionIf you were starting (or re-starting) today in January 2026 with:Some capitalGeographic flexibilityWillingness to self-manage or hire a PMAnd a long-term mindset👉 What would you actually buy right now, and why?

Hi Cameron, YOu can use HELOC's to acquire more rentals, but whether you should depends on how conservatively you use it.But keep in mind that HELOCs on rental properties are harder to get than on a primary residence. fewer lenders, lower LTVs, higher rates, and stricter seasoning.If you go this route, stress test for:-Variable rates-Strong cash flow coverage-A clear exit plan (HELOCs work best as short-term/bridge capital)-Portfolio-level riskUsed conservatively, HELOCs can help you scale.