We look at lenders (so long as they lend in the asset class you are considering) as an additional line of due diligence (they deeply care about their money and they are likely more sophisticated than you are).

@Philip Beckwith many times, but have also lost a few times.You pick your battles.

Michael-  Great explanation of the property classes and appreciation vs cash flow outcomes.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.

BTW- it has a 10 yr track record.2) Our opportunity debt fund with two classes.

I’m talking about upper middle class quality furniture and furnishings withEVERYTHING included.  

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

Pick a listed deal in your area.  

First class. 

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase.