Ask the owner how they market and if you hear "word of mouth", the "phone book" or "sign in window", game on.100% occupancy - Shows they may not be trying to maximize the rent and prefer to stay below market for ease of management (or ignorance).Rent roll - Tenants on the rent roll for 3+ years with no rent increaseRent roll - Rents all set at $25 or $50 incrementsP&L - Shows $0 late feesManagement - Self managedVendors - Only use subcontractors (they don't use MF specialists for painting, flooring, equipment)Not all inclusive and not all are value add flags by themselves but some signs to look for.

The LOC allows repair cost inclusion in LTV calculation.

I don't but I would be wary.Here is an article that covers the basics. https://canalawrd.com/buying-property/buying-real-estate-in-...Competition would be fierce as the Punta Cana area is full of all inclusive resorts.

Hey @Chris Morey, thanks for sharing your situation.I'm not an expert on the Portland market but here in the Bay Area and Seattle, I have found full-service property management companies that charge as little as 3.5-5% all inclusive.

We paid $7,085 for 827 sq. ft. to a GC as follows:$650 - Carpet Removal$100 - Carpet Disposal$3,126.08 - 827 sq. ft. of Flooring at $3.78 (inclusive of tax)$1,800 - Labor: 40 hrs.

You should be able to define a lear and Inclusive Scope of Work. 

Thanks Joe McCall -- I appreciate that.Any list would be incomplete without the inclusion of the BiggerPockets Podcast, though in defense of Scott Dixon, the show wasn't up and running when this post started...

I'd suggest thinking about what the purpose is for your screening criteria, then defining the correct, written policies to make your screening as inclusive as possible to meet your company objectives.

In J Scotts blog he includes closing cost and repair cost when determining Cap Rate, this is confusing me a bit.Cap Rate = NOI / Property PriceJ Scotts Blog Introduction to Real Estate Investment Analysis His example under Cap Rate looks like this:Here is the cap rate for our example property:Cap Rate = NOI / Property Price= $37,169 / $418,000= 8.89%If you look at the blog he breaks down the 418k at the top in the Cost Assumption table: I am trying hard to learn and remember these financial terms but depending on where I read I find discrepancies and it makes me crazy.As we all know the inclusion or exclusion of different factors can change the numbers and make a good deal look bad or bad deal look good.I'm just trying to get this stuff straight so I can create my spreadsheet and know its providing accurate data.

Adding that the order of activities is to be inclusive and not as to any emphasis of the order of description of activities may reduce claims as to getting away from the customary business to be conducted.