As we all know, the standard way BP says to calculate cash flow actually leads investors away form long-term opportunity and leaves a lot of investors on the sidelines because they don't understand IRR and the multi layered dynamics of investing long-term.  

@Stan MendozaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I recently discovered that the 2nd property was a 506(c) offering, which I was unaware of and did not qualify for.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Aggressive pricing is necessary to achieve this, so it's important to ensure the property is realistically priced in line with market standards, which often is not necessarily what you're hoping to sell for. 

@Kristin Vegas NARPM standards highly recommend PMCs provide copies off ALL receipts to their clients.Going to guess your PMC is a one-man operation or close to it.

I carry the standard home owner insurance and a separate $1M liability policy. 

If you tie the bonus to a new lease, a bad employee will lower standards to find tenants quickly.

Without standardized processes in place, costs can rise quickly, timelines can stretch, and profits can dwindle.- Standardized Renovation Models: Establishing a clear scope of work for different property types can help manage costs and reduce unnecessary decisions.

That is why I say I don't think it is a good plan (for my lead generation standards) BUT you will more than likely get lucky and snag one deal... or 2