That just happens to be a convenient example. just curious when you lock into a longer term return and banking on a certain cost of capital if your rates rise thats a bummer. this is whats happening to many who have guidance lines from banks or construction loans all of those are tied to prime.

Its persistence, jumping on the research and numbers fast, and being ready to pull the trigger when everything looks good.

No doubt you'll find that next property with your locked-in vision and crystal clear criteria!  

No trigger will materially change demand: What's notable about the last two and a half years is that rents have largely stayed flat.

Sure enough the rehab ran over budget (we had a large contingency that was used up -- some due to contractor malfeasance, some due to pulling the trigger on big repairs like a new roof) and the revenues were right around expectations, maybe slightly below.  

Our HOA/complex manager has saved my butt more than once when a guest has locked themselves out of the unit and I'm across town or whatever.

Rental Income Consideration: If the property generated rental income while it was debt-financed, the portion attributable to the debt could have triggered UDFI.

With some proper planning and the funds to lock in materials early, you can have an efficient build, but certainly not fast.

You just got to pull the trigger and learn as you go and adapt as issues come up.

But how do you exit the deal, as Randy mentioned these are long term loans and investors are not going to want to be in a deal locked up for that long of a period of time.