Let's break down each component of the VMAR method:Value Creation Catalyst:The first step in researching investment real estate markets is to look for a value creation catalyst.

In your structure think of these two components as separate functions even if the same person (you) is doing both.Here is the most simple structure (freshman class):  You do the work, a friend invests all of the money.  

Good home, location, and screening net a good tenant.Maintenance is easy because of access, but perhaps more frequent with cheap components (that we upgrade).

I gave him my detached opinion, it calmed him down, and he realized his actions would have been detrimental.  

A mini split air conditioner has indoor and outdoor components, but it takes up a lot less space than traditional HVAC.

With all that said,  there is a key component that is important for me.

Staying away from flips unless there with a hold component of C4D component for exit strategy.

An inefficient capital market will provide greater returns, but there is generally a risk component to go with it. 

Everyone is going to have a different definition of finishing materials, but I'm generally referring to:- Appliances- Light Fixtures- Plumbing Fixtures- Flooring (Carpet, Tile, Wood)- Cabinets- CountertopsThe things I generally consider building materials, and ask my contractors to provide, include:- Lumber- Plywood- Siding- Roofing- Gutters- Paint- Rough electrical components- Rough plumbing components- HVAC components- Fasteners- Trim (Sometimes I'll provide this)- ConcreteI know some people categorize differently, but that's how I do it.

A property profile has at least four components, as listed below.Location - The locations where significant percentages of the target segment are renting today.Property type - What type of properties are they renting today?