If he chooses to stay, review his finances to verify he can afford the new rate, then lock him in with a new lease.If he can't/won't accept the rent increase, give him 60 days to find a new place.

I would also want to verify that the renovation budget is accurate. 

Remember to "trust but verify" every decision you make. 

Below are our total profits and information from online listing companies to verify the numbers.

There was recently a new law enacted where a buyer has to sign an affadavit to verify that he or she is in compliance with state laws on foreign ownership of property.

They will also need to verify the ARV through a BPO or Independent Appraisal Report. 

First: Verify the sponsor’s past performance especially for similar deals.

See attached Excel summary sheet.Investment Highlight89% Physically OccupiedSupply Index in a 3-mile radius of 6.8 SF/Capita, 5-mile radius of 7.7 SF/Capita, and 10-mile radius of 8.3 SF/CapitaAdditional Income generated from 4 mobile home lots and 1 mobile home (Not Verified, as thus not included in underwriting assumptions)Key Underwriting AssumptionsDown Payment 25% of Purchase PriceEstimating a CAPEX/Repairs cost of $150,000Estimating Operating Reserves of $10000Stabilized Vacancy and Concessions/loss to lease at 10%Using a cap rate of 7.23%Key Demographic DataTotal Square Footage 21,130 Supply Index: 6.3Population 3,338 1 Yr.

In my experience 2 things work well: 1) Verified recommendations through long term or trusted contacts.

.- Legal and Regulatory Framework: RERA Approval: Verify that the project is registered with the Real Estate Regulatory Authority (RERA) and has all necessary approvals.