First up: RSN Property Group and Monday Properties present The Villas at Princeton Lakes to our panel of LPs, who ask questions and share their perspective. 

Any advice or perspective would be incredibly helpful.Thanks!  

Given your firsthand experience with the Alabama market, particularly with septic-specific considerations, your insights would undoubtedly provide a more accurate perspective on the operational and maintenance costs affecting this asset.Even with the available information, there are still substantial assumptions and speculative elements that must be integrated into the current and pro forma financial analyses to provide a meaningful valuation.

And right now, homeowners across the country are sitting on record amounts of it.Here’s a look at how that equity could be a game changer for you, and why it’ll flip your perspective from “Why would I move right now?”

Leslie, sounds like you approached it more from a management perspective or returning guest.

They were selling on pro forma, but the market and the debt market have shifted, and it's aa lot harder to achieve higher pricing with lower rents.We've purchased over 2,000 units, and the simple answer to the question is that they are either mom and pops and run their businesses with ZERO KPIs, they do not want to risk losing tenants if they raise rents, and they don't treat their asset as a business.When you take over, it can be difficult to get rents to market if they are very suppressed.

Appreciate you taking the time to outline these thoughts.I have not spoken to local lenders or contractors yet, as I'm still in the preliminary stages of evaluating the opportunity from a numbers perspective. 

As I said before, I'm just a local resident, and this is just my subjective perspective and opinion.

Most of the replies have been to get a PM or put systems in place, but I'll share another perspective.

From my perspective this is the end of mom and pop rentals.