Considering a recession is looming, I don't feel comfortable investing in commercial that is not necessity businesses (dentists, drug stores, grocery stores, etc.) not to mention established national chain necessity businesses rather than "Shawna's Art Loft where she paints during good times when people have disposable income to buy  her art" type of commercial.

I realize I am disagreeing with some of my trusted friends on here like @JD Martin and @Russell Brazil about the necessity of collecting this information.

The cake is reducing expenditures to increase cash flow over the long term.The only thing to worry about with having extra cash laying around is the temptation to spend it on "necessities."

Yes, some LO who lacks products and would like to sell their good services but to me, that's more icing on the cake than the necessity, and a good service should be the standard, not something you advertise to stand out.   

I think visiting the area in person is always smart if possible - otherwise, having a rock solid team will be a necessity. 

And yes, it does take time for people to become more stable when it comes to housing, life necessities, car purchase/lease so that affects the number of credit inquiries.

If you want to avoid wind insurance 1031 out of Florida to a market where wind insurance isn't a necessity.

Just make sure whatever rental agreement you use is in compliance with the landlord-tenant laws for your jurisdiction and covers all the basic necessities. 

All my houses cash flow nicely and that cash flow has funded additional down payments for properties, vacations, and other non-necessities.

The combination of incomplete and unnormalized data, unpredictable human behaviors, and the necessity to make assumptions based on insufficient information makes accurate predictions challenging.