It's pointless→ I want to evaluate how the property is performing NOW→ Where it COULD BE performing→ And WHAT it will take to get there.This involves (at a minimum) checking comps, creating a 5 year proforma, verifying taxes & insurance, and making assumptions about the business plan.You can't determine if a deal is a pass/go simply from NOI / Cap Rate.The art of underwriting involves finding value where others miss.If you're passing on deals just from dividing the in-place NOI by a cap rate, send those over here!

I am here in Memphis if you ever need some help checking things out or verifying work etc. let me know I'd be happy to help!

Once we have a completed application, we verify income (by calling the employer and/or with paystubs), verify previous address history (this will show up on the credit check, we ask about any addresses that show up on the credit check but are not listed on their application), and verify identity by requesting a copy of their photo ID to make sure their info matches the application and screening reports.Next, we run credit, criminal, and eviction reports.

You do have somewhat of a positive track record; if it can be verified you should be able to find “partners” willing to provide the capital.  

I have verified that State Farm Insurance will be providing all payments via ALE Solutions. 

I was told that in order to get your license after you pass the exam, you have to be working under a broker and they have to verify that.

Don't believe ANYTHING the seller tells you about the property - verify everything.  

Evaluate each "deal" based on your verifiable numbers, design capabilities, and return requirements. 

Solution: follow the BP process and check, verify, check again.

We have had other candidates who say they are self employed but our process requires tax returns - although we have had a couple who could produce the appropriate pages, most of them go on to admit they don't report it and thus are unable to verify the income.