While for EXP the transaction cost is very very low so even with more agent coming and less income from buyer commission ,it would not affect their bottomline that match as the OPEX is low.What's exciting is if we see more local/new broker.Meant to say the broker that able to adapt to efficiency where their cost of business structure is more aligned, would be the long time winner.

I created COGS accounts to match the line items on IRS form 8825 to keep it simple but most of my transactions so far don’t seem to align with them (things like tool purchases, furniture and light fixtures, and a wall divider capital project).4. ...

Because Baselane was created by real estate investors for real estate investors, the categories align perfectly with your Schedule E you'll need to file when you do your taxes.

Always keep your long-term objectives in mind and make sure each investment aligns with your overall strategy.Good luck!

Adam,I hear that statment a lot but the key component of this REI game is once you have your mortgage paid down. 

.- Uses no or very, very little fund leverage (LOC for less than 20% of fund equity) This is very important component to realize and understand - where are you in the debt stack- Lends in one specific location/region that fund managers have deep operational experience in and which has speedy foreclosure laws.

Remember that this is not always the case, so you want to try and get an idea of their daily routine to make sure it aligns with what you are looking for. 

I think it's best to project both sets of numbers and see how they align.

Although IDK how DSCR lenders would perceive this strategy, but it does align more closely with long-term rentals and several still do STR properties.

Or what about the syndicator who wanted to complete a condo conversion but the units are going to be geared towards empty nesters and that buyer is not motivated to make that next move until rates calm down & the GP is forced to continue to carry a building as a rental asset when that's not its true or highest and best use but still projects to be an excellent development once the market conditions are better aligned.....