Track key performance indicators (KPIs) and keep up of market, economic, and regulatory developments as you regularly assess and tweak the performance of your portfolio.

Another tactic is pricing out current materials costs and then trying to assess labor separately where possible.

Understand factors like demand, supply, demographics, and economic trends.Diversification: Spread your investments across different types of properties, locations, and markets to reduce exposure to risk.Financial Analysis: Conduct comprehensive financial analysis, including assessing potential rental income, expenses, and cash flow projections.

I'd start by assessing their performance - compare the actuals to the airdna / bnbcalc projections, assess the ratings and reviews on the listing.

@Joshua Randall, I would say there is an underlying knowledge base needed to properly assess and manage contractors.  

It would be wise to concentrate on three markets simultaneously and thoroughly assess their population and job growth.

Additionally, assess recent land sales in the nearby area.

I have also told him that we would split the renovation and whatever percentage of the renovation each of us pay, then we will retain that percent in equity depending on the increase in assessed value, post renovations.

Investors analyze income, costs, financing conditions, market rents, operating efficiency, and other dangers in order to assess cash flow potential.Increased revenue from tenants, extra sources such as laundry facilities, parking fees, and storage rents, as well as mortgage payments, property taxes, insurance, maintenance expenses, utilities, property management fees, vacancy allowance, and capital expenditures.

Expenses: Insurance is about $145/m property tax about $208/m (my guess, lowkey the property got tax assessed at $89k in 2022 and now its worth what it is now so I'm guessing $2450 a year).