You should get hard bids to confirm your estimate.

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Have your systems and processes in place to have the business become increasingly more autonomous (cleaning, pricing, property management software, automation, etc).

We use software that tells us risk levels of potential applicants to avoid these type of issues.

I personally think these sheets are better than what I’ve seen on commercial software primarily because I built them from an investor’s perspective based on our priorities.

Another potential question to ask would be if they use a comprehensive property management software and if they stay up to date with technology.

Great news for the local investors, bad news for the California absent landlords (our software catches/filters by property location and borrower primary residence, there might for example be a lender in California that lends nationwide but requires the borrower to live in their 3-county footprint, and every other configuration of that you can imagine).

Most PM software allows multiple owners and once set up, automatically splits everything.We once managed a property with ELEVEN owners!

Gentlemen, I was waiting to confirm from my title gal - and I was pretty sure of the answer but wanted to get it in writing from her: “just set the sale price to $1.00”

They can confirm whether the occupancy requirement was satisfied by the previous owner or if you need to meet it as well.