Some lenders absolutely require interior access, but there are lenders who can work off exterior condition, past MLS data, public records, and conservative assumptions, especially when access isn’t legally permitted yet

Focus on analyzing deals carefully, running numbers conservatively, and learning from smaller rehabs or rentals before scaling up.

Carefully run your numbers in advance and be conservative...

In short: $558k gross, ~9% cap, modeled cash-flow of ~$92k/yr with professional management (or ~$140k if self-managed), and conservative 5-yr after-tax proceeds of ~$1.4M.I’m sharing the math, assumptions, depreciation treatment, and the risks/opportunities I saw (value-add ideas, occupancy sensitivity, and market comps).

In short: $558k gross, ~9% cap, modeled cash-flow of ~$92k/yr with professional management (or ~$140k if self-managed), and conservative 5-yr after-tax proceeds of ~$1.4M.I’m sharing the math, assumptions, depreciation treatment, and the risks/opportunities I saw (value-add ideas, occupancy sensitivity, and market comps).

Robert, great goals—here’s a clean path: master one BRRRR-friendly submarket in central PA first with a tight buy box and conservative ARV/rehab so you can prove your model and build a track record you can take to bigger deals.

Verify rents with a local PM, stress‑test at higher rates and conservative vacancy, and only buy if it cash flows without short‑term rental income.

Or is everyone just recasting the T-12 with conservative assumptions no matter what the OM says?

If the property cash flows even with conservative numbers (vacancy, repairs, reserves), it might make sense to move forward.If it’s tight and you’d be relying on room rents to stay high, it’s better to hold off, pay down your car, and work on your financing first.

Keep it simple: pick one buy box, walk properties weekly, run real comps and conservative rents, and make one offer this month.