A good PM can steer you to the areas that perform the best and are in the most demand.If you rely on a sales agent, they may not have any idea what makes a good rental and could steer you in the wrong direction. 

They suggest relying on the inspection contingency instead.Is this a common practice right now, or is it specific to my area?

The city’s northernmost borough dished out 652 new small multi-family listings in the first half of 2024, a 43% increase from last year’s 455 new listing total between January and July.The Bronx also saw an 11% increase in the median asking price over the last year.This increase in asking price did not translate to actual sale prices.

. - this leads to management inefficiencies and waste- you have to rely on other people's judgment- you have an overhead cost burden for doing things remoteIt is tough enough to organize a carpet & paint rehab remote (ask anyone who did it the first time), let alone a full-scale BRRRRR.

Just make sure you don't rely strictly on the numbers, because they don't always tell the whole story.

., I always found that the steepest part of my learning curve as I transitioned from SFR to STR to Commercial land development and MF (all using 1031 exchanges) was learning what "didn't translate" from the prior type. 

Real estate investors rely on cap rates to analyze deals and compare potential returns before making a purchase.🔍 Understanding Cap Rate:- On the surface, the cap rate is one of the best ways to determine whether a deal is worth pursuing.

But you'll need to rely heavily on your accountant's guidance so that you do not take out too much taxable gain.  

For those who relied on buy, cash flow, this isn't a Motel 6 model any longer.

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