It is absolutely needed -its one of the most critical components. 

Since you have built a lot of them, could you spare 15 min to share your perspective on the main pain points of land discovery?

For context its mainly retirement communities around 2 hours either way from Las Vegas and Phoenix.

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.

Mainly apartment complexes and self storage.

My main goal is to find something relatively close to the DMV area but without the DMV price tag.

Mainly the "self sufficiency test". 

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

The structure is mainly appreciation-based, which minimizes tenant and maintenance risk.