We really stretched ourselves thin. we did not perform our own inspections because we were busy raising finances .. and our agent insisted we use the same company who did the initial inspections to “get a report in our name” .. we went for visual inspection with our agent and found the master bathtub was  upside down — they said there was a chip and seller was fixing the tub.

They balked when I asked them for proof of their portfolio's past performance - which led me to believe they were aiming too high. 

First: Verify the sponsor’s past performance especially for similar deals.

You need representation that has a lot of experience to avoid common issues like early terminations, performance of that location for tenant, etc..Rule #1 is make sure you are happy with market rents for the building (not what current tenant is paying).

The software interface isn't terribly efficient, but it performs its functions just fine)That said, I think there are some locks that have a wifi function and no fee, BUT they require interfacing with a smart hub - and the cost of setting that up combined with the amount of tech knowledge needed/potential for things to go wrong made me give them a pass.  

Things are expensive in Florida but you can still find "deals" or properties that will perform where you can get 10-25%+ CoC returns. 

So, they aren't in a position to take a property back if the buyer doesn't perform.

I haven't set specific targets beyond this initial goal, but I may aim to increase my passive income to $5,000 or $10,000 per month in the future.Current PropertiesI currently have two properties:The Loft:This property is rented out long-term and generates around $300 per month in passive income after HOA and management fees.The loft has approximately $100,000 in equity.The House:This is a brand-new build (2024) that I'm currently occupying through house hacking.I invested $70,000 in the property, which means I have $70,000 in equity.My plan is to convert this property into an Airbnb or long-term rental within the next two years.Short-term rental comps suggest I can earn around $3,500-$4,000 per month, while long-term rental comps indicate I can earn around $3,000-$3,300 per month.Seeking AdviceGiven my upcoming financial situation, I'm seeking advice on the best course of action.

I have had years to think about this having owned a nice slug of A class IE brand new construction in the best school district in the state. and over 300 C and D class with a sprinkling of B class.from Jackson MS to Detroit and many cities in between and on both coasts... 

How does one actually perform adequate due diligence on these types of deals?