As you’ve done more deals, and carefully documented them and the results, your track record will speak for itself and will be a key element of establishing trust amongst investors that don’t already know you. 

Current rents: you can glean this information through online sources as well as old-school searching (walk-ins, calling the buildings)Talk to local brokers to get the inside scoopMarket analysisCheck to see if building is in a flood plainYou can ask for, but these items are usually provided after signing a contract: Leases for lease auditing against bank statements, tax returns and leases (usually not provided before a contract has been signed).Tenant payment historyViolations, delinquenciesLease addendum and/or other agreementsTax ReturnsBank StatementsUtility billsCan RUBS be implemented (some municipalities may not allow it)Service contractsReserve fundsEnvironmental assessmentEmployee recordsStructural issues including foundationEmployee historyOther value-add features that can be added include:Trash valetCar portsStorageDog parksTo be honest, a similar level of due diligence is required across multifamily and manufactured housing (mobile home parks).Best of luck!

Consistency is key.7.

The key word you mentioned is "Basic".  

Currently looking at a multifamily property.Purchase Price- $371,000Rental Income- $310025%  down with taxes/ insurance makes mortgage -$2,040The property is turn key and has been fully redone over the past two years.Is this a good deal?

Light and portable are key.

For example, if Memphis has a lot of turn key activity, is there also a banking / financing scene in that same geographic area that caters to the industry?

If development is the selection, utilize proforma analysis and the schematic plans produced by the design team during the entitlement phase to introduce the project to institutional debt and equity sources for determination of underwriting criteria and to obtain initial terms sheets and commitment letters for financing. 

These income producing properties are a good source of income for our business especially in the tough times to cover overhead when we aren't building homes.

Current landlord is using the 2 car garage for his own storage and neither tenant has access to it - thinking that could be a source of extra revenue either offering to other tenant for increased rent or renting the space out for storage.Currently in negotiations!