Evaluate your situation, leverage what you know, learn what you need to, and execute on your level.

I kind of assumed that lenders evaluate the property based off income and that the previous tax returns for the property would be worthwhile to provide them?

Hi Matt, whenever evaluating an MTR market I would suggest looking at Furnished Finder, Airbnb/VRBO (30+ day stays), and Zillow to try and see what other online listings are available. 

@Paul Caputo While I don't disagree with your points, at the same it doesn't make you an uninterested party in evaluating KBKG calculator.

Rather most sellers don't keep good or any books so they don't know what their expenses are and most buyers of these units don't understand or know how to evaluate based on cap rates.

I don’t think notice is even required if they are the ones giving you notice of problem that needs to be addressed, and if they’re really concerned about mold, you’d think they’d want evaluation asap.

Other hidden costs you need to consider when evaluating HM lenders:-Applications Fees-Administrative Fees,-Commitment Fees-Underwriting Fees-Origination Fees-Loan Servicing-Rehab Draw Fees-Inspection Fees-Interest paid on undrawn rehab budget?

Hey BryceI have been in a similar situation when evaluating a deal. 

Most real estate projects today are either not achieving their preferred return in cash flow or may not achieve this bench mark for the first three, four or even five years -- at this point, there may also be accrued preferred return that would have to be caught up.As a fund manager, what other asset classes are you evaluating to help increase cash flow for both your investors AND yourself?

Third Financial Preparation Evaluate your budget, savings, and credit score.