For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

You have to prove you did everything right and then because of “empathy” for the poor snook who “fell into you schemes” you may lose anyway.This is a legally binding transaction that will be treated that way by the law.

This fosters a top-down management approach that ensures accountability and efficiency throughout the property.As I've earned from my own experiences, the difference between a good operator and a poor one lies in effective asset management.

If you put down an earnest deposit, you might lose out on that if you decide to back out(potentially). look at the agreement.The more important thing is, do you quality for conventional financing?

Are their listings detailed with good-quality photos?

It sucks for us LLs, because if the tenant is poor, LL won't go to small claims to get award, too, and then there's eventually no record.

What quality of life (stress) are you willing to trade for more money? 

Buy quality assets with NON section 8 tenants that have 700 fico scores thats safe bet in the US>  And what I do ..

But as you said, it takes a quality renovation team, quality property management, and quality business partners.

Reading here about the variance in PM quality, finding a good one seems like it is perhaps the most important factor in the PM decision.