Functionally obsolete.

When I was looking for my first property, I found myself in the same boat — digging through new websites, chasing obscure metrics I thought I had to understand, comparing median income, school ratings, crime maps, appreciation charts, and everything else that seemed critical at the time.

The closets were full of men and women’s clothes, and there was a perfectly functioning pool in the backyard. 

As portfolios grow, managing leverage becomes critical.

I completely agree that having a proven system in place before bringing on a VA is critical and your point about doing the cold calls yourself first to establish KPIs is especially helpful.

Garrett points out you have states that are Attorney closing states where the escrow function is done by an attorney office and the attorney is an agent for Title insurance underwriter. 

If leverage is used, UDFI may also apply.You also need to avoid prohibited transactions, no personal guarantees, no providing services, and no material participation.Before proceeding, it’s important to evaluate deal frequency, structure (assignment vs. double close), financing, and your level of involvement, since proper setup upfront is critical.

Here is something critical, look at how long the HOA can take to approve or reject any proposed changes.   90 days is not uncommon.  

It's based on commercial multifamily underwriting and modeling, but the same concepts, principles, and functions apply to small multifamily and single-family investing.

@Dillon Clark thanks for sharing, am I understanding correctly that you are currently working on taking a property from raw land to a functioning camp ground?