Below are some key metrics and the proforma I have compiled from a feasibility study and an STR report.

It was a ridiculous amount of time and really had no basis in factual studies.

I am not stating this was the case in all markets, but people who think cash flow is guaranteed need to study their RE history.  

The most important rule is to get to know the sub-market you're buying in and the property type and study what they are running on.

This would be my first major investment, so I do not have much investing experience, but I have done a lot of studying on the matter.

They don't provide tax documents on time, which cause significant headaches. they don't provide proof of cost mitigation studies unless you threaten to sue.I am a seasoned investor and I got duped in their flowery talk.

@Yu Xiao, using that property as a short term rental during the time you own it will open up some additional tax saving potential as will doing a cost segregation study to take advantage of some accelerated depreciation.  

Recently, there's been a study about this market where the new city is rising.

Your best option may be to push the board to get a reserve study done.

I think 50-150 units is no mans land and we stick to institutional level sized deals. his underwriting is too simple. the unit mixes are off we only build studios and 1 beds for fast absorption, the deal is also under parked without a parking study. anyone who uses "roughly" in their analysis isn't sophisticated enough. we underwrite rent growth, asset growth, and a million other assumptions this wouldn't pass any people I know who invest in deals. get with a More experienced operator and read more sophisticated underwriting. 400k per door new construction is crazy. how much is the land?