You have a ton of great experience that will make your REI journey a little easier.I always recommend ensuring new REIs have high cash flow income streams in place prior to pursuing rentals.

Maybe insurance will cover it.The property manager can't possibly sit in a rental 24/7 to ensure nobody squats.

I'd ensure that you can at least break even or have a different exit plan if that 5K goes away. 

Schedule a final inspection to ensure quality standards are met.Each of these sections would come with an estimated timeline, budget, and list of materials required, making it easy to track progress and expenses during the project.

This includes everything from tenant screening, rent collection, and maintenance to managing budgets, ensuring legal compliance, and addressing tenant complaints.

Perfect example Oregon ( Hillsboro tech Hud) got a massive amount of Chips Federal Grants as Chips are seen as a National need ( dont want to rely on Taiwan)  Intel is largest employer in state . the city of Hillsboro identified 1700 acres to bring in to ensure future high Tech growth ( got to have the land)  the no growthers and farmers and newspapers scream we cant have sprawl U cant do this.. we have plenty of land already in the Urban Growth areas.. while thats true very few parcels are over 40 acres in size.

It also tracks who is in what house and all other resident info I might need, and is absolutely vital to our operation.Each of our houses has a live-in manager who, for free rent, ensures all residents are following a strict set of rules and guidelines that is enforced quantitatively with a points system to ensure objectivity and uniformity between managers and houses.  

The most basic step is to ensure that our form is in a highly visible, easy-to-access location where visitors can simply fill in their name, email, phone number, and property address.It’s honestly ridiculous that the BBB accreditation is ABOVE the form where the lead should input their details for your acquisition agent to contact them!

It will be spelled out there for sure.When you provide notice: ensure you do it correctly.

Transparency could go a long way in creating a smoother process and ensuring fewer surprises down the road.Thanks for bringing up this perspective, Don—it's definitely made me think about how different market standards could impact the way we handle transactions here.