We have a revenue manager making DAILY adjustments to price to get bookings. 

The risk becomes exponentially higher if the "guardrail" team members are not there to help advise, but know that any additional party involved who is weighing in on a particular deal can hamper the need for speed in cases where wholesalers may not wait for your financed offer with an inspection.

Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

By integrating CPAs into the initial discussions, real estate funds can be structured more effectively, with tax considerations and financial goals addressed comprehensively from the start, ultimately avoiding costly amendments and adjustments down the line.

The tool we implemented was Price Labs which has a feature that allows you to adjust minimum stays based on how far advanced a guest is booking. 

Should I just post it at the high end estimate and adjust it down?

Our original and adjusted basis on each property falls in the $400s and the Cost Seg studies are being quoted in the mid-$2,000 range per property.

Persistence is key – it involves adjusting to market changes and overcoming difficulties with patience.

Legal Compliance: Make sure you’re up to speed on landlord-tenant laws in your area, especially concerning lease transitions and tenant rights.If everything checks out and aligns with your investment goals, this could be a great opportunity to have a steady income stream with minimal vacancy delays.

LLPA = Loan Level Price Adjustment