@Kajohn Chen Make sure that the cutover responsibilities and ownership of activities are clearly defined for the property manager rolling off and the property rolling on. 

I define full cycle as having high expense items being replaced a 2nd time.   5 years is not enough to even have short lifetime items like a water heater being replaced a 2nd time.  

I love combing through data and I have defined the different attributes I want to see for cities. 

but this has really helped me in defining much clearer my minimum requirements for each applicant (sidenote, both reasons for denying the applicant that spurred me to start this thread were listed in the article)

Add up all the items you expect to encounter during your hold period (determined by looking at expected remaining life of roof, furnace/HVAC, hot water heater, floors, landscaping, appliances, driveway, components (windows, doors, garage door etc.)).

I’m looking at my first multi family deal, and was curious how you all underwrite the value add component; ie, what costs are you associating with fixing up a unit and how do you break it down?

I will definately look into it. 

"Define manufactured home. 

Hi Jonathan, do your acquisitions need any rehab or value add component, or are they strictly buy and hold?

The Exit Cap
I chose to start with the Exit cap because it seems like a small factor in the syndicator’s underwriting and is often overlooked by many passive investors. However, it’s one of the most important factors...