I have over a decade of experience in strategy consulting and in real estate underwriting for new acquisitions and ground up developments.

Finally, double-check local demand and rent trends in the area to ensure the pro forma income is achievable.I’ve worked on several mobile home park deals as a broker and am currently helping a few clients sell their parks, so I know how important it is to ensure the numbers make sense both now and in the long term.

I regularly get sent underwriting on value adds in excess of 20%.I do not do work intensive value adds to flip so my acquisitions have slowed significantlygood luck

Final comment, it seems complex.  

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

Approving an application typically means the tenant meets your criteria and is a good fit, but it doesn’t have to be a final commitment to rent.

The asset was sold a couple years later and the operator gave all investors the option to exchange into a new acquisition or liquidate.

I would like to find a mentor/agent who has experience with Foreclosures (HUD) who would be willing to answer questions and work together in the Phoenix/Scottsdale area.I'm on a new journey in life and finally taking steps in the Investor direction... something I should have done a long time ago.

After acquisition, we furnished it, added a couple decks for a hot tub and solo stove fire pit, as well as a ton of string lights and were off to the races!

We’re considering whether to do mid-grade updates and rent it soon if we can find a good next property though acquisition and ongoing costs are a problem.