Well said and thoughtful analysis. 

This analysis was for my first protege and was more thorough than the appraisal).  

I've done some analysis myself but hoping to hear from the experts. 

Going forward keep it front and center of mind that analysis of property is 1/3 the action.

We have had a few walk through and done property analysis on several properties, but are not really cognizant of what we are getting into.

I don't know your specific market all that well but have you done some analysis on your ADR during the high season X your high season occupancy rate and determined whether taking lower priced slow season bookings vs letting your property stay vacant during the winter averages out in your favor?

A net rental income analysis will be performed to determine the net cashflow from each property.

They will likely count your potential rent as part of their analysis and should give you a good idea of how much you could "buy" based on your situation.

Think Indianapolis is a great market for investing - we just released a list of our top 5 markets for BRRRR Investing for 2025 (just an analysis and prediction) and we put Indy at the Number 1 spot

The markets that can help you achieve financial freedom (see the Dependencies above).Talk about over analysis.