If you keep evaluating properties in your market you will get a sense of what an average deal will look like and you will know when a better than average deal looks like, and those are the ones you want to move quickly on. 

@Michael Guzik - That makes sense.

Does it make sense to apply with multiple lenders and receive multiple credits checks in order to nitpick the best offer?

I would put myself in this equation if the deal had more significant numbers (rents, margin percent, equity) but since I'm not buying in the Raleigh area anymore it doesn't make sense for me anyway....

That said, if you have a high net worth, lots of properties and an overall large operation, an entity (or multiple) begins to make a lot of sense.

Pick a criteria and stick to it, if the deal doesn't make sense, walk away.Feel free to reach out to my phone# in my signature if you'd like to chat!

I guess I was trying to avoid it but the reasons you provided for why it is necessary make all the sense in the world!!

And I would bet very few would get marketed to.The key is to find the ones where the numbers make sense (i.e. price to rent ratios) and that are good areas with decent schools.

No sense putting new carpet down that will get trashed, and replacing with new hardwood treads is very expensive (worth it for a flip, not a rental).

Pets with a pet fee and/or an additional security deposit for pet could make a lot of sense.7.