It's one of my top performers to this day, 5 years later. 2.

The Chip and Joanna factor has been a boost to Waco.

What due diligence would I need to perform?

Do you have a good understanding of the financial performance of the property?

I am looking to get into real estate a little deeper as i currently work 14 days on and 14 days off schedule which gives me plenty of time to perform most of the work.

Your personal credit still matters, but a commercial lender will be more concerned with the property's performance, specifically it's Debt Service Coverage Ratio.

@John Farady that is very valuable information.I just wanted to add, in order for a DM piece to perform, your marketing message (copy) must match the questions going on in your target's mind and address their concerns, challenges, and problems.You could have the best copy, but if the letter or postcard is being sent to a target list where things aren't congruent (a match around solving their problem), what ends up happening is a deep frustration around DM.DM can be expensive to do on a regular basis. 

You can handle it in a few ways 'sorry, one of my staff already performed it' or, 'One of our staff members will be doing it as their scheduled allows... not sure when that will be'... blah, blah. 

The most usual is using comps that aren’t really comparable, and not making enough of an adjustment to reflect the difference.If, after 12 months of ownership you have another appraisal performed, and this appraisal confirms the value as concluded by the former appraisal, then you may be able to monetize the equity.

The municipality typically performs a Use & Occupancy inspection (or a similar name) that primarily looks for safety items and verifies proper operation of major features.