Often just the basics (Internal Cap Rate, DSCR, CoC, CF Rates), and disposition metrics (equity multiple, total return, annualized return, & GRM) are enough to determine a good deal.Just curious, what kind of internal cap rates are you estimating for these 4-unit properties once fully built & stabilized?

I'm sure you have to upgrade more and more to get consistent bookings.I would also agree that not as many people are willing to fly into the Smokies as opposed to flying into the Rockies or just going International. 

Of course I still need to decide which part of the country I plan on investing in (it's possible I'm moving around the country frequently in the first year, so that is making me think about the most ideal location for an initial investment).Once established and with a track record in Spain, I plan on making my first investment here in the US, most likely in the Boston/MA area.In any event, I'm excited to connect and learn from those in this group.If you know anyone with international investment properties or contacts abroad, especially in Spain, I would love to connect!

Please see Topic No. 701, Sale of your home | Internal Revenue Serviceshttps://www.irs.gov/taxtopics/tc701

I wish BP had a international section :) 

The assessment evaluates the home’s energy efficiency, and conducts analysis to asses the potential savings for a variety of improvements.Cost Effective Test for Newly Constructed HomesFor newly constructed homes, the improvements are cost effective when they exceed the standards set by the most recent International Energy Conservation Code (IECC) that has been adopted by HUD for new construction properties.

New Choice Hotels International franchisees need to have at least a $750,000 net worth.

Maybe they can call it an “intern” position.

An insurance agency could charge a fee as well but they'd have to show that too.If everything is the same on the policy (can be hard to tell with a cursory look at a quote) it's possible some of the internal risk information was changed a (such as year of update) and the underwriter changed pricing to reflect that.It's also possible one agency asked for pricing credits to get as close to a certain number (perhaps a number you told them based on the current policy) and the other agency was unaware of that number so they didn't ask for credits.That would be the most likely in most cases but it's odd since the quote was already created and given to you from The Hartford that it would change so much.By the way, your agent should be able to retake control of the quote quite easily with a signed BOR/AOR as discussed. 

Appreciation and cash flow make up part of the calculation of the Internal Rate of Return (also including depreciation benefit and amortization of the loan).