So things that are a red flag for me may be fine for someone more aggressive.1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where you think we are in the real estate cycles (financial and physical market cycles)b) Then only then pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

If you market is like Escondido you will understand this advice better after doing the exercise that I suggested.Good luck

Also consider that the general rules can be bent when dealing with a complex property - a property that is large, waterfront, or in some other way unique.A good comparable has the following features:Distance from the subject property (normally .5-1 mile)Time of the comparable sale (normally within 6 months - some underwriters want a couple within 90 days or so)Physical Similarity to the subject propertyI hope this gives you a basic understanding of what to look for.

What is the physical setup?

Technically it's just a lease until they exercise the option.

My company will do all the physical work to the property.

Large companies do sometimes exercise their breakers and conduct thermal imaging to see if any breakers are hotter than they should be compared to the other breakers.Are the terminals in the panel burnt?

Physically the pictures are ok but there is a little issue with what you took pictures of. 

This would avoid the Due on Sale Clause in most situations.As for your consulting I would exercise putting that into the LLC.

But the purpose of this exercise was actually to attempt to validate how accurate those estimates are.