Real estate is local.

The understanding you bring to each transaction, the ability to read between the lines, and the personal connections you forge are irreplaceable elements that complement the analytical power of AI. 

It’s like giving the home a sense of place..a nod to local design traditions while still making it feel fresh.

Inventory situation is another key element.

@Luke H.Hi Luke,  As a private money lender myself I will focus on one element of your deal---5 years is a long time to be finally paid. 

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

To clarify, my focus isn’t on analyzing T-12s for purchasing a property but rather on developing a solid T-12 for managing my property effectively and for use when I eventually sell my investment property in the future.I want to ensure the T-12 I create is both accurate and straightforward, serving as a reliable tool for tracking performance over time and presenting the property’s financials to potential buyers down the road.If you have any advice on key elements to include or how to structure it for these purposes, I’d greatly appreciate your insights.

One thing I think I would do is either hire a professional market research company and/or get a local high school or college marketing class to do market research and surveys to see if there is interest and demand. 

We likely need to look for local lender that is keeping loan in house.  

To replace your income you need to flip a lot of houses, I'd do the math with an average 10-15% profit margin, because you have to account for some turds.The other opportunity is to change your job and take out the element that you hate.