According to the BiggerPockets forum discussions, here are some key steps for conducting due diligence when purchasing a self-storage facility:Analyze the financials thoroughly, including net operating income (NOI) and cap rates.

Develop the current P&L and then conduct the pro forma estimates in order to truly analyze the property!

Mark NolanCan 408(b)(2) be interpreted as I can use the plan to fund the unit "if the unit is used to conduct reasonable services or business necessary for the operation or the establishment?" 

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

By conducting a comprehensive inspection and treating the transaction with the same care and attention as any other, I ensured that my interests were fully protected which gave me a peace of mind.What was the outcome?

.- Check up frequently on the property and conduct walk throughs as allowed by your lease agreement.- Hire a solid property manager who gets paid to keep tabs on the property for you. 

IRS audits and penalties: Studies that are poorly conducted may be full of unsubstantiated assumptions and errors that can lead to expensive audits and large financial penalties from the IRS.Long-term issues: Dealing with IRS audits and having to correct inaccurate studies can be a drawn-out, stressful and expensive process.

Real estate can be a great investment for those who are willing to conduct thorough research, build a team of advisors, and make informed decisions.

Before making a decision, it's important to conduct thorough calculations to ensure the deal aligns with your investment goals.

Hello Everyone,I am new to the community and looking for a CPA and professional to conduct a cost segregation analysis.