I live in Charlotte and would prefer a multi-family investment property that is within a 3-4 hour drive so I'm considering areas that include: Charlotte, Raleigh / Research Triangle, Charleston, and Atlanta.

Lenders will not send out an LE without a complete application (which includes a property address) because it's basically binding.

Including the Statement of Cash Flows.  

I would include your realtor in the conversation, at least when you're introducing yourself.

Does the contract include a monetary damages provision?

Between a 1031 Exchange, HELOCs, and a partnership, I'm up to 15 doors including my personal residence.

Interest rates and cap rates change, competition changes, your PM ends up being horrible, lots of variables.Just to throw you a monkey wrench, in your killer spreadsheet does it include the credit score, income, and employer of every resident? 

If you're left with $107k across all 3 units after ALL expenses are deducted (some people don't include PITI when they discuss NOI) then I'd say it's darn good.

., I think there's a lot to building a "community" like feel for your tenants that may include events, giveaways, etc., to get them to engage with you and elevate their living experience.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.