Greetings all,We’ve all read methods on how to analyze a real estate deal, running numbers, estimating rehab costs, incorporating taxes, capital expenses, etc.

More than anything this will exclude you personally from claim history (some of which is without merit and is the nature of the litigious society we live in). 

My parents are putting me in charge of the entire investing process because they're too far retired to want to deal with it, so naturally I want to make sure I'm making the best decision for all of us. 

Not sure what neighborhood you're in, but it sounds like it's a class C/D property, which will naturally have a harder time attracting tenants that will (a) pay on time, (b) maintain your property, and (c) stay for long periods (which matters in the long run). 

Avail is absolutely excellent for lease building and e-sign as it incorporates state-specific legal clauses and allows you to modify the lease to your liking. 

Step #PhaseStep1DiscoveryTalk to experts and learn (process, tips, design tips)2DiscoveryCreate social media and document story3DiscoveryGeneral research - budget considerations, financing options, permits, regulations, tax considerations4DiscoveryMarket research - competitor analysis, analyze guest reviews, market trends5DiscoveryGather ideas/inspo (blogs, articles, youtube)6DefineCreate brand and vision7DefineCreate guest requirements (e.g. coffee maker, natural light, near activities, etc.) and prioritize must have, nice to have, etc.8DefineSketch idea for look and feel (architecture and design) - map out the floor layout9DefineConsult an architect (is this needed?)

Naturally we are a bit nervous, but we have solid exit strategies in place which helps to reassure our confidence!

Naturally, there's no universal solution, but I'm more than willing to share with you.

I cant tell you what to do , but investing in rentals over the long term has been great for me , some times there are more repairs , sometimes less , but thats just the nature of the business

He is in Corporate Realty and wanted do some residential real estate.