Some people seem to get locked in to one place they find, or a place a friend or family member is selling without really evaluating the available market.In a small town in East Texas I would think your biggest risk is a big player coming to town that can absolutely crush a smaller player. 

With a 7% interest rate and high HOA fees, the key is evaluating if your skills and investments can generate higher returns elsewhere.

I like to be thorough and hence included detailed expense categories in my spreadsheet when evaluating a deal. 

Additionally, I've been spending a lot of time evaluating condo / HOA management solutions and accidentally stumbled on ManageCasa, which offers a free trial and < 3 unit free tier that has allowed me the time to get in, kick the tires, and really appreciate their attention to detail and broad feature set that adapts to each unique industry sector.

One thing in real estate and probably most other businesses is that most people including me don't know how to measure and evaluate risks.  

Then, if you decide to explore a mentoring program, you will have the background knowledge to actually evaluate it and make an informed decision, and you'll be able to speak the language and ask intelligent questions.

On the other hand, a detailed quote with a higher total may offer more transparency and reduce the risk of surprises as the project progresses.I specialize in consulting services for situations like this, where I help clients evaluate contractor quotes, ensure transparency, and navigate the renovation process with confidence.

Partnering with an experienced motel operator is a smart idea—it can help bridge the operational knowledge gap and mitigate risks.When evaluating motels, focus on metrics like occupancy rates, average daily rate (ADR), and revenue per available room (RevPAR).

I currently assign these scores manually, but it’s tedious and limits how quickly I can evaluate opportunities.Ideally, I’d like to:•Automate the collection of MLS/Zillow data.

I'm happy to chat about the calculator I use when evaluating properties along with my set inputs.