EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Be prepared to navigate through potential tenant issues and lease terms. 

The initial thought is you are probably charging too much if no one is interested, or your photos or description are bad.Four beds and only one bath probably reduces demand as well, that’s potentially a lot of people sharing one toilet.And it is winter - I’m in Buffalo, I hate listing rentals this time of year.

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options 

You give vague answers to specific questions.For example, when someone asks about potential rent, and they provide enough information for you, don't respond with an extensive range.

Finding it through your Facebook sphere shows the power of networking, and keeping the rehab cosmetic was a smart way to minimize risk and maximize profit.One thought: Have you factored in holding costs, loan interest, and potential market fluctuations during the 45 days?

To clarify, my focus isn’t on analyzing T-12s for purchasing a property but rather on developing a solid T-12 for managing my property effectively and for use when I eventually sell my investment property in the future.I want to ensure the T-12 I create is both accurate and straightforward, serving as a reliable tool for tracking performance over time and presenting the property’s financials to potential buyers down the road.If you have any advice on key elements to include or how to structure it for these purposes, I’d greatly appreciate your insights.

If you inherit a tenant and they have been a good tenant, I see no reason to suddenly ask them to submit an application for a potential lease renewal. 

The networking and local market insights are invaluable.For retirement planning, focus on building steady cash flow and consider setting aside a healthy maintenance fund (I usually recommend 6 months of expenses) to protect against any surprises.If you're looking to expand your portfolio, Columbus is a great market where we still see positive cash flowing deals with lots of appreciation potential.

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).