A loan commitment letter carries more weight as it confirms lender approval, signaling a stronger ability to close.Addressing Closing Concerns: A commitment letter meaningfully reduces concerns, especially when paired with proof of equity and a track record of performance, even if on smaller deals.What Brokers Look For: Key factors are a reputable lender, clear terms in the commitment, and evidence of funds for equity and reserves.

Use the actual NOI, not the pro-forma b/c that is how the property is ACTUALLY performing.

I will answer as it relates to traditional BRRRR, in the general case there are additional options.  1) Do not perform maximum cash extract.  

I am very happy with the performance of my portfolio - all my properties are between a 10-13% cap rate.

If you and your husband can perform the same line of work in another state like Florida, Texas, Nevada I would move out of CA as soon as possible. 

At the time there were limited 3 BR rentals in the neighborhood, but achieved such high rental rates the properties ended up performing better as rentals than as a for sale project.

You can also check online resources like BiggerPockets or Roofstock, which offer general CapEx guidelines based on property type and age.These methods should help you perform a solid preliminary analysis.

Again, these are normally in the lower tier  neighborhoods that rarely perform on resale as their appraisal may suggest.

For doing an STR well the larger properties are best and it needs to stand out amongst competition to perform well. 

As of today however due to a signed affidavit we will be given a court date to follow through with eviction and perform said strategy above with section 8.