I understand the importance of presenting good numbers and the fact that it is crucial to not only moving your deals, but also to gain credibility.

It sounds like you have the hard part perfected, which is so crucial, start saving!

I agree that Bob is going down the right path. as I mentioned recently in a similar thread comparing stocks to real estate, before your cap rate is viable you need to look at apples and apples, not apples and oranges. 

@Kenneth Garrett I think we're talking apples and oranges.

You don't last 23 years in this business believing all drywall textures are created equal and there's a can for every one of them at the Big Orange Retail Giant.

However, for investors with out of state properties, I think having a good manager on the ground is crucial.

Comparing apples and oranges for sure....Anyway.

How much I/O (ranging from one year to full term) depends on the individual deal.

Your willingness to share such experiences helps fellow investors like me become more informed and better prepared.Your dedication to due diligence, like driving by every property you bid on, is a commendable practice that emphasizes the need for hands-on research, especially in unfamiliar territories.It's crucial to have a well-rounded understanding of the risks involved in real estate, and your candid insights are invaluable in this regard.

Lastly, yes, call landlords as @Alan Asriants mentions is crucial.