Inventory situation is another key element.

The key is building systems and finding solid property management to handle things while you move around.

And if you build it the right way, you can always fall back on the long term rental strategy here too.Location is always key here.

I know they’re an essential tool for analyzing a property’s financial performance, but I want to ensure I’m approaching them correctly.Could anyone share examples of what a good T-12 looks like or highlight key items I should make sure are always included?

Need to be sure you include the "unknown budget" and never take the optimistic approach as it is better to have money left at the end than writing more and more checks that were unplanned for.Again, if you can walk through an actual property and compare notes with someone that does it in your area (key factor), you will be way ahead of what a generic book can give you.

Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

The most important key you want to consider is your boots on the ground.

In that case I write off the lost rent as cost of doing business, but I prefer that to the expense and hassle of an eviction, which typically ends up costing us more and takes longer, even though Milwaukee is still pretty landlord-friendly.I have also done cash for keys, but typically very conditional. 

It becomes risky if you buy an investment that won't pay you back in year one so having a strong buy box and knowing your numbers is key!

The key is understanding your comfort level with managing multiple units right out of the gate..