Real estate is still a block-by-block business and there are always deals to be found by sophisticated underwriters, but all of the apartment and industrial deals we're seeing are priced to perfection with little margin for error, whereas neighborhood retail is providing strong risk-adjusted yield in comparison.  

Top discoveries so far: electrical boxes which are depth adjustable, pex supply lines, sink drain wrenches, and handheld ratcheting abs cutters, cutting in paint without taping (the Idaho painter), Wagner paint sticks, and heat gunning drywall mudd for a quicker patch.On contractors get a handful of rough quotes (~7) over the phone on each item, 3-4 in person walk through bids, and pick the person to do it.

If we see signs of a crash or even a shift we can adjust.

In fact, if the Sponsor is focused on preserving, protecting and returning capital, they should be presenting some opportunities that are providing a steady risk-adjusted cash distribution that are 7 - 10 year holds (or reorganization at that point) depending on debt terms that are placed.  

If you have adjustable rate mortgages, my suggestion would be to refinance into 30 year fixed rates, while rates are already so low.

An inflation adjusted 6% is okay but I was really hoping for 10%.

You should be able to adjust the lot rents to full market levels day one and the customer is still happy because it's lower than what they were paying typically.Another benefit is that at least you know the homes cannot be repossessed by the home lender because you are the home lender.We buy deals like that all the time, and there's nothing wrong with it as long as you understand the risks and what the strategy is for success.

If you decide to list it first with the boiler and get the feedback that the house "needs new HVAC" By the time get that response you will be working uphill as far as days on market and any price adjustments you might make along the way.Thats my .02 af far as what I look for with my clients being a Buyer Agent by day investor by night.

I can play more with the numbers and make adjustments on the insurance as I was thinking of the worst case scenario where the insurance is also high.

Now I know all the areas of New Orleans and can adjust quickly with my own properties or the ones I manage.More than happy to share some more if you’d like!