This time period had very high scrutiny and the bank already had a relationship with my builder which was the reason it was easily approved because the board had to approve them at the time given how tight everything was so the vetting of the builder is critical.

Another criticism is they're relatively easy to force, but your average lock is easy to bump.

Utilities can be one of your biggest expenses, and it is critical to verify actual billing against the P&L. 

I understand that for OBX rentals, oceanfront is critical for maximizing revenue.

I've seen plenty of P&Ls missing critical expense items.

@Russell PedenPrimarily you are correct; the performance of the facility needs to show it is self-sustaining and that is the DSCR number.You get the financials from the seller or his agent -- last years PnL and you can then calculate the GSI, expenses, NOI and the critical DSCR. 

Quote from @Kate Porter: Quote from @Paul Sandhu: I give out wall calendars of scantily clad women and pens, both with a description of my STRs and my phone number.ughhhhh 🙄Oh don't be too critical.

Please let me know what you think any advice or criticism is welcome.

It's the most critical part, take ownership here.Other things that come to mind:* Daily Standup - 10-15 minutes to double check how they are doing* Slack - communicate often, I use my phone a lot since I might be on the move* Don't assign critical tasks like closing * Tasking sheets - assignments that you can follow up with.

Any advice, tips, and criticism is welcome.