A leak causing water to flow under the sub-floor and into the crawlspace can lead to significant structural issues if not addressed promptly, and you’d likely need a plumber and possibly a contractor to assess and fix the damage.

Lenders often look for this when assessing the viability of construction projects, so it’s good to know if you have experience or a solid team in place.Are you looking to retain ownership after the build or sell the property?

I am not sure if they are correct in their assessment of the market, but definitely worth noting as it is happening a lot right now.   

As such, anything 3+ stories and older, you need to be VERY cautious and understand when and if the study has been performed, what they found, and if there are any resulting special assessments.

Once you have a clear understanding of your goals, it's crucial to assess your risk tolerance and investment horizon for each one.

I strongly recommend a Phase 1 Environmental Site Assessment (also called a Phase I ESA).

Cap Rate:To assess the overall profitability of the property, calculate the cap rate.

And make sure that all items necessary for you to get the best rate possible from your carrier (like 4 point inspections, roof attachment points, pool enclosures etc) are present or available.One nasty little factor that can't be helped is that every time you buy a property for more than than last owner paid - you will have a tax bump due to re-assessment. 

As a result, many condo associations are raising dues and issuing special assessments to cover these costs.Impact and Solutions:The combination of new regulations and rising costs is creating a financial strain on many condo owners, especially those in older buildings.

It is good practice in assessing STR potential and performance by combining personal research and rental experiences (rates and dates) with at least one local reputable Property Management company rental revenue estimate.