Purchase price: $925,000 Cash invested: $200,000 13 Unit Multifamily property in the Waveland neighborhood of Des Moines, Iowa. pre-acquisition: 7% under MR and 15% vacancy/bad debt.

If you’re using a hard money loan, ask your lender for a pre-approval letter to include as well.

I was pre-approved for a conventional mortgage with a 3 % down payment 2.75 Interest Rate.

Watch out for the village requirements and make sure your team knows what areas require rental and pre-sale inspections. 

Pre-internet, being a landlord wasn't easy, but it was straightforward (this is a gross oversimplification).

Also have you done any pre-dd-  driveby, discussions with broker, property managers and other real estate professionals about this property.   

Also Ca tax sales wipe EVERYTHING out the only reason for a pre lim would be a access issue.. which of course one can do on their own..

When I asked them about the fraud/lawsuits they said that was Clayton Morris' old partnership with a different company and now they only refer to SDIRA Wealth which only sells new construction homes that are usually pre-leased to buyers (currently they are building in Lubbock, TX).

I'll add, since you're pre-closing it's worth reaching out to the seller/current property manager to see what they currently do.

These gurus leave out of a lot of information and were lucky to scale that quickly from pre-2012 to 2021, which is really hard to do now in 2024.