Prospects need to physically go to the property before signing a lease, so everyone is on the same page.

I specifically want to expand on Chris's point by discussing capital risk buckets, which help set a target return range for IRR.At my company, they are as follows:Core: Lowest risk, Class A product, in Central Business Districts, ranging from 7-10%+ levered IRR (since you're in development, I assume this is most of the asset class you handle).Core Plus: Still low risk, strong location with potential upside, 10-13% levered IRR.Value Add: Medium-high risk, Class B+ or B-, mediocre to strong location with operational or physical upside, 13-15% levered IRR.Opportunistic: Highest risk, major upside potential, varying locations, 15-20% levered IRR.As for the GP/LP split on promoted interest, GPs can choose an aggressive split, but the decision should be strategic and consider the preferences and risk tolerances of potential investors.

Where I'm stuck is whether I should use a metering system that pre-prints a stamp onto the envelop or find a machine that can place a physical stamp onto an envelope (obviously I can't sit there all day stamping).I'm thinking from the perspective of mail that looks to "businessy" vs. mail that looks more personalized for better response/conversion rates.

See attached Excel summary sheet.Investment Highlight89% Physically OccupiedSupply Index in a 3-mile radius of 6.8 SF/Capita, 5-mile radius of 7.7 SF/Capita, and 10-mile radius of 8.3 SF/CapitaAdditional Income generated from 4 mobile home lots and 1 mobile home (Not Verified, as thus not included in underwriting assumptions)Key Underwriting AssumptionsDown Payment 25% of Purchase PriceEstimating a CAPEX/Repairs cost of $150,000Estimating Operating Reserves of $10000Stabilized Vacancy and Concessions/loss to lease at 10%Using a cap rate of 7.23%Key Demographic DataTotal Square Footage 21,130 Supply Index: 6.3Population 3,338 1 Yr.

Still believe that:1) With 3D Tours, floorplans and walk-thru videos (taken & shared by listing agent with buyer agents) there's little need for an investor to physically see a property.2) Agents should better set expectations with investor buyers, so they understand that with #1 above and a great inspection, there's no need for them to physically see a property. 

When I said how many properties do you look at, I didn't mean physically visit and look at; I meant properties you reviewed, in case I was not clear. 

Orange Park has had next to no new supply since the 80s/90s because of barriers to entry in the physical barriers around the submarket as well as the low allowable density for new construction.

Our ability to secure and resell the property swiftly underscored our expertise in maximizing value without extensive physical improvements.

AI visually scans thousands of homes for physical distress and can complete the D4D job in minutes - not hours or days.Here is an example..

These, for the most part, prevent wild "bad faith" moves.Other investments I have like DSTs and crowdfunding involve actually owning a fraction of a physical building or complex.