It can really work in any market - sometimes renting by the bedroom can out perform LTRs in several markets too.

It serves as the foundation for all successful deals.The first stage in analyzing a possible investment is to perform rigorous financial due diligence.

And our best performing 1 bedroom, 1 bath condo hardly any vacancies until recently. 

A good PM can steer you to the areas that perform the best and are in the most demand.If you rely on a sales agent, they may not have any idea what makes a good rental and could steer you in the wrong direction. 

Beautifully clarified Jeremy, thank you.  

Second, the brokers who perform these are often brokers with a lot of time on their hands, so the pool of brokers are the LEAST successful and newest brokersThird, the brokers are not educated in the proper METHODOLOGY to perform a valuation.Look, if you as a broker run some comps where the subject property is a SFR in a “cookie cutter” subdivision and the subjects age, style, amenities, condition, are similar to the comps being used, you’ve got a fair shot at a pretty accurate valuation.  

When you meet with the contractors, make sure to have them help you understand what you have, what will be required to repair and maintain what you have, and what you should be budgeting for future capital improvements, if needed.As we go through DD, we are also putting together the strategy for the park, performing our rent survey, running our test marketing to understand the demand in the market, and creating the budget for the project.All the best,Jack

Main house performing mostly cosmetic renovations What was the outcome?

I just listed my first flip project (which turned out beautifully).

When I was referring to software that will help me analyze deals I was looking for something that will assist me in  performing a CMA.