I have two tenants lined up (of course no guarantee but odds are in my favor to have revenue coming starting within a month of escrow close).

I'm trying to buy a carwash in 1.75 acres busy intersection, in business since 2002 , revenues of 580k and nets 350k semi absentee.

The way I read the platform instructions, I would have to enable "Professional Hosting Tools" in order to manually enter the County Tax of 5% so that I did not have to take it out of my nightly rental revenue. 

The tenant is Ohio Tool Works which did $17M in revenue last year- a very solid tenant.

., do a true bottoms up furnishing and renovation budget, get a firm sense of DSCR loan options from lenders, obsess about revenue projections using specific comps in the market, talk to insurance companies, get firm on property tax estimates, operating costs specific to that property/ market, etc. this step goes relatively fast over the course of a day or so. 

My underwriting shows this doing better than breakeven without any revenue from the bar area, which apparently used to generate more revenue for the past owners than the rooms.So, with that out of the way, any tips, advice or pitfalls to lookout for when underwriting a property like this?

Odds are, they will be able to do get a higher average daily rate and generate more revenue.

This project vision and plan are rooted in historical STR data of this market, maximizing revenue, occupancy, and ADR.

The funny thing is I have BS degrees in Mathemetics, Computer Science, and a minor in Physics and have 20+ years experience in software development related to $1B+ revenue for projects I developed.

I’ve noticed a few markets I’m researching seem to have lower revenues looking forward compared to 2020/2021 … curious to see if that’s more of a nationwide trend or not.