I’m not saying your wrong and curious to your approach but if you wait till you have possession, let’s say Nov 15th, only then would you list the property?

Account Closed @Theresa Harris - That was my approach since we bought 5 years ago and needed to built up reserves.  

I probably would not use a back of the napkin approach, but hey, it works for some.

They approached us about wanting the property because the father had recently passed.

Overall, Dave E's approach is the safest bet. 

.* If you don't have their email address or home address, collect this info and upload all contact info to a CRM so that you can systematically remain in contact throughout the year.Best of luck to you moving forward!

So I will start to narrow my search as my time horizon approaches.

My question is, how do you approach deal analysis?

@Lamont Marable check your local building and fire codes...putting living space below grade carries a lot of life-safety requirements and needs to be permitted...worst case...if there is a fire and tenants cannot escape...and you knowingly put living space below grade without the required safeguards in place...RE investing career over...Just do it right if you venture down that path...hiring an architect is always the best approach to something like thisBest of luck

Seems like you took an honest, considerate approach.