This is exactly how I got started, and it has proven to be critical to me getting in the game, and gaining momentum.

In that sense, Cap Rate is a critical component that you must know.I have no idea why BP puts Cap Rate into its calculators for single family. 

Why this is critical is when you're dealing with 5+ units, the bank is almost like a second set of eyes where they'll make sure the property cash flows enough or else they won't lend on it. 

So while you both are saying a license may not be necessary, is it still critical that the contractor be insured?

The more critical aspects to consider are Expertise in real estate taxationA reasonable fee structureCommunication (quality and quantity)Tax planning abilities

@Ken Schwarz As far as I know, there are no third parties that do tax assessment contesting.Not trying to criticize, but due diligence should have made apparent that the previous owner was likely getting a 4% rate on an old assessment value.

Blank's spreadsheet that I created for syndicating and I did not delete because this side-by-side analysis is very critical to use when analyzing the purchase of multi-unit properties.

If your deal pencils under conservative underwriting (have another set of eyes look at it too, and pick someone you know that is critical), and you have reserves to weather a storm, thats about as good as it's gonna get for you in reality. 

This prevents information overload and forces investors to focus on the most critical aspects.

So, ...we don't make the market, and we do live in it, but we don't have to bend over for a bad one either.As far as waiting anything out or making predictions, I don't make predictions, and am very critical of those who do.