This allows both parties to discuss expectations and ensure alignment.

@Doug LearnardRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

I expect one tentant to struggle and he has 2 kids. 

@William SilvaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Many of the shiny object brokers I expect every day to see they've decided to call it quits. 

Sometimes these insurance contracts come in legal sized paper- possibly a harbinger of what you'll need to do to collect fairly from them, But always expect them to perform completely on the things which are in their financial favor.

Or try the reverse - rehab a property to Class A standards in a Class D neighborhood and try to get a Class A or B tenant to rent it.Unfortunately, many newbie real estate investors are jumping into buying affordable Class C rentals - expecting Class A results.

Some of the places that are devastated right now were at the top of lists of places that were expected to be the most resilient to the affects of climate change. 

If you miss one t or don't dot one I in NJ, it's thrown out. 

If your goal is to get into short term rentals - analyze the deal to a point where it can still work as a longterm or midterm rental if short term doesn't perform as expected.