Quote from @Kyle Carter: What are some questions that you can ask to each of the required team members(PM, Agent, etc. ) to ensure that goals align and they are best fit.  

It's a good idea to consult with a real estate attorney to ensure everything is legally binding and clear to avoid future disputes.

The checklist here acts as a roadmap, ensuring that nothing is overlooked.Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance.

CoghillWe’ve used AppFolio for many years to manage a large portfolio, and while onboarding can be thorough, it’s primarily to ensure compliance with financial and legal standards.

Additionally, those forced to relocate due to the fires should update their address with the IRS to ensure they continue to receive relevant communications.

If multifamily properties in your area are priced well, it might be worth moving forward sooner rather than later.Risk Tolerance: Since you’re the sole provider, it’s crucial to ensure you have a solid emergency fund to cover unforeseen expenses, especially during vacancies or repairs.Long-Term Goals: Think about how this investment fits into your long-term financial goals.

After analyzing the potential ROI, we negotiated a fair price of $58,500, ensuring room for renovation costs and profit.

The key is to ensure the HELOC doesn’t turn into a long-term financial burden if the partnership doesn’t pan out.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

Thank you, Adam  Hey Adam, obviously Bias here as we are accountants, but yes with three properties is definitely worth hiring a CPA or tax specialist that focuses on real estate to ensure all your taxes are filed compliantly, properly, and you're getting all the deductions possible.