Anyone have a word or excel document or set of rules that would help define what one should be looking for when they are evaluating a potential properties condition or structure before they make an offer and pay for an inspection?

But, more than that, I am responsible for defining PIGS, which is the key to understanding the phrase...Understand - no one wants to intentionally cut corners.

We have bylaws that clearly define things and he is in violation of many of them.  

The way I take it is: Take a certain amount of the profits each month and give it to yourself.Another way it was defined was in a recent podcast: Income - Profits = Expenses.

Investors who buy these usually appreciate the character and don't want to remodel.. also these investors usually have construction companies or work close with contractors...

It gets down to educating yourself on the dynamics and defining a strategy that adapts to the conditions (among a lot of other factors).However average DOM in the range of ~60 days does make me a little nervous.

Definately look forward to learning as much as I can and networking with everyone here, especially in my area. looking to wholesale, rehab, and buy & hold properties!

Originally posted by @David Schwan:Welcome to BP Denzel if you chose New Orleans or Nashville you will be picking a good market. how do you define a "good market"?

A bad lease can make getting a loan on the property tougher for an end buyer that is a coupon clipper for a NNN lease.Tenants love to throw in crap like blocked rent ( goes up every 3 to 5 years 6 or 10% at a time versus each year), early termination rights in the primary lease period, below market rent bumps, sales drop clauses, off load NN for roof and structure versus true NNN, defining option period with terms that are favorable to them, weak guarantee on the lease or parent corporation drop off after a few years,etc. 

I know you to be a good judge of peoples character-- I am sure it will work out for the best, we are all just worrying for you so that you do not have to.