Start with the address and details about the rental.Create a section for tracking the lease information.

Quote from @DeQuantay McDowell: I’m close to locking up a potential fix & flip deal here in Columbus, GA, and I’d love some feedback from experienced investors before I move forward.Property Details:4 Bed / 3.5 BathPurchase Price: $275,000ARV: $360,000 (based on comps within the last 3–6 months)Estimated Rehab: $15,000–$25,000Mostly cosmetic: paint, flooring touch-ups, fixtures, landscaping, and minor updates depending on inspection.Seller claims the property will be delivered free and clear (no mortgage or tax liens)Current Condition:The property is in good structural shape.

If you do want to make a direct investment, then you will need to determine additional details. 

If you want an out-of-state perspective, I’ve been investing in Columbus, Ohio since moving from Portland in 2020, and even managing projects from afar becomes much easier with a trusted local team, detailed contracts, and frequent photo or video updates.

Quote from @Aimee Cabanas: So, to manage showings, walk throughs and meeting the seller, would you recommend having an eager investor in that area or teaming up with an estate agent?

Thank you for pointing out leaving out much of the property details and also the tenant.

I also do property walkthroughs, photos, and rehab check ins for folks who invest remotely, so I’m in the mix with a lot of these projects.Feel free to reach out if you want to discuss what you’re trying to build and what kind of deals you’re targeting in Detroit.

You need full access for inspections, appraisal, contractor walkthroughs, and scope approval.

Some I can think of quickly - cleaning gutters, making sure dirt/grading is adequate, servicing HVAC, doing annual/quarterly walk throughs to double check the condition, replacing furnace filters. 

Operators typically contribute the management, pricing, setup, and systems; investors bring cash and sometimes credit.The biggest pitfalls are unclear roles, no agreed exit plan, and differences in expectations around maintenance, upgrades, or reinvesting vs. distributing cash flow.If you ever want to walk through example structures, I’m happy to share how we evaluate and partner with operators in our co-investing club.