I’ve been following Elliot from Ace Properties for a while on instagram and I’m considering buying properties from him.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

I understand that not all deals pan out as pro forma says but at least yearly updates are essential, quarterly even better.

Having this information allows me to give my clients a solid understanding of current market conditions, enhancing our discussions and decision-making.

@Drew Sygit Trying to understand paying bank this loan rate is good idea or payoff principal early is a good idea.

I understand different people have different risk profiles.

I’m just getting started and looking to soak up as much knowledge as possible—whether it’s about finding good deals, managing renovations, or understanding the financial side of things. 

I do not understand what it is you are trying to do.

My understanding is that the ballpark standard of "unless it would be outrageously tough" (something along those lines) is what applies if you're doing a rehab, seeking new permits, doing structural changes anyways, and things of that nature.For existing pre-ADA structures, my understanding is that the standard is more along the lines of "if it can be easily/cheaply done, you have to do it."