Skill: 1kalin/afrexai-real-estate-engine (version 1.0.0)

# Real Estate Investment & Operations Engine > Complete real estate system — from deal sourcing through portfolio management. Covers buying, selling, investing, landlording, and development with actionable frameworks, calculators, and templates. --- ## Phase 1: Investment Strategy & Criteria ### Strategy Selection Matrix | Strategy | Capital Needed | Time Commitment | Risk | Cash Flow | Appreciation | |----------|---------------|-----------------|------|-----------|-------------| | Buy & Hold (rental) | Medium | Medium | Low-Med | ✅ Strong | ✅ Long-term | | BRRRR | Medium-High | High | Medium | ✅ Recycled | ✅ Forced | | Fix & Flip | High | Very High | High | ❌ Lump sum | N/A | | House Hack | Low | Low | Low | ✅ Offset | ✅ Yes | | Wholesale | Very Low | High | Low | ❌ Fee-based | N/A | | Short-Term Rental (STR) | Medium | High | Med-High | ✅✅ Higher | ✅ Yes | | Commercial | Very High | Medium | Medium | ✅ Strong | ✅ Yes | | Land Banking | Low-Med | Very Low | Med-High | ❌ None | ✅✅ Speculative | | REIT/Syndication | Any | Very Low | Varies | ✅ Passive | ✅ Diversified | ### Investment Criteria YAML ```yaml investment_criteria: strategy: "buy_and_hold" # buy_and_hold | brrrr | flip | house_hack | str | commercial markets: primary: "" # City/metro you know best secondary: [] # Expansion markets property_types: [] # SFR, duplex, triplex, fourplex, MFH, commercial price_range: min: 0 max: 0 target_metrics: min_cash_on_cash: 8 # % annual min_cap_rate: 6 # % max_price_per_unit: 0 # For multi-family min_monthly_cashflow: 200 # Per unit, after all expenses max_rehab_budget: 0 # For value-add financing: available_cash: 0 max_leverage: 80 # % LTV preferred_loan: "conventional" # conventional | FHA | VA | DSCR | hard_money | seller_finance deal_breakers: # Auto-reject - "flood_zone" - "foundation_issues" - "environmental_contamination" - "declining_population" nice_to_haves: - "below_median_price" - "near_employment_centers" - "growing_population" - "landlord_friendly_state" ``` ### Market Analysis Framework Score each market (0-100): | Dimension | Weight | Metrics | |-----------|--------|---------| | Population Growth | 20% | 5yr trend, net migration, age demographics | | Job Market | 20% | Unemployment rate, employer diversity, wage growth | | Rent-to-Price Ratio | 15% | Gross rent / purchase price (>0.7% = good) | | Landlord Friendliness | 15% | Eviction timeline, rent control, regulations | | Supply/Demand | 15% | Vacancy rates, permits issued, absorption | | Affordability | 10% | Median income vs median home price | | Infrastructure | 5% | Transportation, schools, development plans | **Market grades:** - 80-100: Aggressively acquire - 60-79: Selectively acquire (cherry-pick deals) - 40-59: Hold existing, don't acquire - Below 40: Consider exit --- ## Phase 2: Deal Sourcing ### 8 Deal Channels (Ranked by Quality) 1. **Direct Mail** — Targeted lists (absentee owners, tax delinquent, estate/probate). Response rate: 1-3%. Cost: $0.50-$2/piece 2. **Driving for Dollars** — Physical scouting for distressed properties. Free but time-intensive. Use DealMachine or similar to track 3. **Wholesaler Network** — Pre-negotiated deals at markup. Verify ARV independently. Quality varies wildly 4. **MLS (Agent)** — Listed properties. Most competitive. Look for: days on market >30, price reductions, motivated keywords 5. **Auction** — Foreclosure, tax lien, estate. Due diligence limited. Cash required. Discount: 20-40% typical 6. **FSBO** — For Sale By Owner. Direct negotiation, no agent commission baked in 7. **Networking** — REI meetups, BiggerPockets, local REIA chapters. Long-game relationship building 8. **Online Marketplaces** — Zillow, Redfin, Realtor.com, Roofstock, Auction.com ### Deal Screening Checklist (5-Minute Filter) ``` □ Meets price range criteria □ Rent-to-price ratio > 0.7% (or flip ARV margin > 30%) □ No deal-breaker conditions □ Neighborhood grade C+ or better □ Verified comparable sales within 6 months □ No major structural red flags from photos □ Zoning allows intended use □ Insurance obtainable (not in exclusion zone) ``` If ALL checked → proceed to full analysis. If ANY unchecked → pass or investigate. --- ## Phase 3: Deal Analysis ### Rental Property Calculator ``` MONTHLY INCOME Gross Rent: $______ + Other Income (laundry, parking, storage): $______ = Gross Monthly Income: $______ MONTHLY EXPENSES Mortgage (P&I): $______ Property Tax: $______ (annual / 12) Insurance: $______ (annual / 12) Vacancy Reserve: $______ (8-10% of gross rent) Maintenance Reserve: $______ (8-10% of gross rent) CapEx Reserve: $______ (5-8% of gross rent) Property Management: $______ (8-12% of gross rent) HOA/Condo Fees: $______ Utilities (if landlord-paid): $______ = Total Monthly Expenses: $______ MONTHLY CASH FLOW = Gross Income - Total Expenses ANNUAL CASH FLOW = Monthly × 12 KEY METRICS Cash-on-Cash Return = Annual Cash Flow / Total Cash Invested × 100 Cap Rate = NOI / Purchase Price × 100 NOI = Annual Income - Annual Operating Expenses (excluding mortgage) GRM = Purchase Price / Annual Gross Rent DSCR = NOI / Annual Debt Service (lenders want > 1.25) 50% Rule (screening): Expenses ≈ 50% of gross rent (excluding mortgage) ``` ### Fix & Flip Calculator ``` ACQUISITION Purchase Price: $______ Closing Costs (buy): $______ (2-4%) = Total Acquisition: $______ REHAB Renovation Budget: $______ + Contingency (15%): $______ = Total Rehab: $______ HOLDING COSTS (Monthly × Hold Time) Loan Payments: $______ /mo × ____ months Insurance: $______ /mo × ____ months Taxes: $______ /mo × ____ months Utilities: $______ /mo × ____ months = Total Holding: $______ SELLING COSTS Agent Commission: $______ (5-6% of ARV) Closing Costs: $______ (1-2% of ARV) Staging: $______ = Total Selling: $______ TOTAL INVESTMENT = Acquisition + Rehab + Holding + Selling PROFIT = ARV - Total Investment ROI = Profit / Cash Invested × 100 RULES: 70% Rule: Max Offer = ARV × 0.70 - Repair Costs Minimum profit target: $25,000 or 15% of ARV ``` ### BRRRR Analysis ``` BUY: Purchase price + closing costs REHAB: Renovation budget + contingency RENT: Market rent verification (3+ comps) REFINANCE: After Repair Value (ARV): $______ Refinance LTV (75%): $______ New Loan Amount: $______ Cash Recovered: New Loan - Original Loan Payoff Cash Left In Deal: Total Invested - Cash Recovered REPEAT: Cash-on-Cash = Annual Cash Flow / Cash Left In Deal Target: Infinite return (recover 100%+ of cash invested) ``` ### Stress Test (MANDATORY Before Buying) Run every deal through these scenarios: | Scenario | Test | Pass Threshold | |----------|------|----------------| | Vacancy Spike | What if vacancy hits 20%? | Still cash-flow positive | | Rate Increase | What if rates rise 2%? (ARM/refi) | Still cash-flow positive | | Rent Decline | What if rents drop 10%? | Still covers mortgage + reserves | | Major Repair | $10K-$20K unexpected expense | Can cover without selling | | Market Crash | What if value drops 20%? | Not underwater on loan | | Eviction | 3 months no rent + legal costs | Reserves cover it | **If ANY scenario = financial distress → don't buy or renegotiate terms.** --- ## Phase 4: Due Diligence ### Property Inspection Checklist ``` STRUCTURE (Deal-Breakers First) □ Foundation — cracks, settling, water intrusion □ Roof — age, condition, remaining life (replace: $8K-$15K+) □ Electrical — panel age, amperage (100A minimum), knob-and-tube? □ Plumbing — material (copper/PEX good, polybutylene/galvanized bad), water pressure □ HVAC — age, type, efficiency (replace: $5K-$12K) □ Water heater — age, capacity, type □ Windows — single/double pane, condition, drafts INTERIOR □ Flooring — type, condition, repair vs replace □ Walls/ceilings — water stains (= active leak?), cracks □ Kitchen — cabinets, counters, appliances, layout □ Bathrooms — fixtures, tile, ventilation, water damage □ Doors — operation, locks, weather sealing EXTERIOR □ Siding — material, condition, paint □ Drainage — grading away from foundation, gutters □ Driveway/walkways — condition □ Landscaping — trees near foundation, overgrowth □ Fencing — condition, property line verification ENVIRONMENTAL □ Lead paint (pre-1978 homes) □ Asbestos (insulation, tiles, siding) □ Radon testing □ Mold inspection □ Termite/pest inspection □ Flood zone check (FEMA maps) TITLE & LEGAL □ Title search — liens, encumbrances, easements □ Survey — boundaries match deed □ Zoning verification — conforming use □ HOA review — rules, reserves, assessments, litigation □ Permit history — all work permitted and closed □ Property tax verification — pending reassessment? ``` ### Comparable Sales Analysis (CMA) ```yaml subject_property: address: "" beds: 0 baths: 0 sqft: 0 lot_size: 0 year_built: 0 condition: "" # poor | fair | average | good | excellent features: [] # garage, pool, basement, updated kitchen comparables: # Need 3-5, sold within 6 months, within 1 mile - address: "" sold_price: 0 sold_date: "" beds: 0 baths: 0 sqft: 0 adjustments: sqft_diff: 0 # +/- $50-$150 per sqft bed_diff: 0 # +/- $5K-$15K per bedroom bath_diff: 0 # +/- $5K-$10K per bathroom condition_diff: 0 # +/- $5K-$30K garage_diff: 0 # +/- $5K-$15K age_diff: 0 # +/- $1K-$5K per decade adjusted_price: 0 estimated_value: low: 0 # Lowest adjusted comp mid: 0 # Average of adjusted comps high: 0 # Highest adjusted comp confidence: "" # high (tight range) | medium | low (wide spread) ``` --- ## Phase 5: Financing ### Loan Type Decision Matrix | Loan Type | Down Payment | Rate | Best For | Watch Out | |-----------|-------------|------|----------|-----------| | Conventional | 20-25% | Lowest | Strong credit, primary or investment | DTI limits | | FHA | 3.5% | Low | First-time buyers, house hack | Owner-occupy required, MIP | | VA | 0% | Very Low | Veterans, house hack | Eligibility, funding fee | | DSCR | 20-25% | Higher | Investors, no income verification | Higher rates, prepay penalty | | Hard Money | 10-30% | Highest (10-15%) | Flips, bridge loans | Short term (6-18mo), points | | Seller Finance | Negotiable | Negotiable | Creative deals, no bank qualifying | Balloon risk, due-on-sale | | HELOC | N/A | Variable | Rehab funding, down payment | Variable rate, cross-collateral | | Commercial | 25-35% | Medium-High | 5+ units, mixed-use | Shorter amort, balloon | ### Creative Financing Strategies 1. **Subject-To** — Take over existing mortgage payments without formally assuming. Risk: due-on-sale clause 2. **Seller Carryback** — Seller acts as lender for portion. Combine with bank loan for lower down 3. **Lease Option** — Control property with option to buy. Lock price now, close later 4. **Self-Directed IRA/401K** — Use retirement funds for real estate. Complex rules, need custodian 5. **Partnership/JV** — One brings capital, other brings time/expertise. Define roles in operating agreement 6. **Private Money** — Borrow from individuals at agreed terms. More flexible than hard money ### Refinance Decision Framework Refinance when ALL true: - New rate saves >0.5% AND payback period < 3 years - OR cash-out refinance recovers capital for next deal - Sufficient equity (>25% after refi) - Plan to hold property >3 more years - No prepayment penalty or penalty < savings --- ## Phase 6: Property Management ### Tenant Screening System ```yaml screening_criteria: income: minimum_ratio: 3.0 # Monthly income / monthly rent verification: ["pay_stubs_2mo", "tax_returns", "bank_statements", "employment_letter"] credit: minimum_score: 620 # Adjust for market red_flags: - "active_collections_over_500" - "prior_eviction" - "bankruptcy_under_2yrs" - "multiple_late_payments" background: check: ["criminal", "eviction_history", "sex_offender"] disqualify: - "violent_felony" - "drug_manufacturing" - "prior_eviction_last_5yrs" # NOTE: Follow Fair Housing laws — no blanket bans rental_history: minimum_years: 2 verify: ["landlord_references_x2", "payment_history"] red_flags: - "no_references_available" - "lease_violations" - "unauthorized_occupants" scoring: # Weight and score for borderline cases income: 30 credit: 25 rental_history: 25 employment_stability: 10 completeness: 10 # Accept: >70/100 | Review: 50-70 | Decline: <50 ``` ### Lease Essentials Checklist ``` MUST INCLUDE (All Jurisdictions) □ Parties (full legal names of all adults) □ Property address and description □ Lease term (start/end dates) □ Rent amount, due date, payment methods □ Security deposit amount and return conditions □ Late fee policy (amount, grace period) □ Maintenance responsibilities (landlord vs tenant) □ Entry/access notice requirements □ Termination/renewal procedures □ Pet policy (if applicable — breed, size, deposit) □ Occupancy limits □ Utilities responsibility □ Insurance requirements (renter's insurance) JURISDICTION-SPECIFIC (Verify Locally) □ Rent increase notice requirements □ Security deposit limits and interest □ Lead paint disclosure (pre-1978) □ Mold disclosure □ Bed bug policy □ Smoke/CO detector compliance □ Habitability standards □ Domestic violence provisions ``` ### Rent Setting Framework ``` MARKET RENT DETERMINATION 1. Search 5+ comparable rentals within 1 mile (same beds/baths/sqft range) 2. Adjust for: condition, amenities, parking, laundry, updates 3. Check trend: rising, flat, or declining market 4. Set at or slightly below market for fast occupancy (2-4 weeks target) RENT INCREASE DECISION Current market rent: $______ Current tenant rent: $______ Gap: $______ Tenant tenure: ____ years Payment history: excellent / good / fair / poor IF gap < 3%: Skip increase (retention > marginal revenue) IF gap 3-10%: Increase to close 50% of gap IF gap > 10%: Increase to close 75% of gap IF tenant is problematic: Increase to full market (or non-renew) TURNOVER COST CHECK: Vacancy (1 month): $______ Make-ready repairs: $______ Listing/screening: $______ Total turnover cost: $______ Months to recoup with increase: Total / Monthly Increase IF > 12 months to recoup: Consider smaller increase ``` ### Maintenance Priority System | Priority | Response Time | Examples | |----------|-------------|---------| | P0 — Emergency | Immediate (1-4 hrs) | Water leak, no heat (winter), gas leak, fire damage, lockout | | P1 — Urgent | 24 hours | Broken AC (summer), no hot water, toilet not working (only one), appliance failure | | P2 — Standard | 3-7 days | Minor plumbing, non-critical appliance, pest issue | | P3 — Low | 2-4 weeks | Cosmetic issues, landscaping, minor repairs | | P4 — Scheduled | Next turnover | Paint, carpet, upgrades | --- ## Phase 7: Tax Strategy ### Real Estate Tax Benefits 1. **Depreciation** — Deduct property value (not land) over 27.5 years (residential) or 39 years (commercial) - Cost segregation study: accelerate depreciation on components (5, 7, 15 year) - Bonus depreciation: 40% in 2026 (declining annually) 2. **Mortgage Interest** — Fully deductible on investment properties 3. **Operating Expenses** — Property management, insurance, repairs, travel, education 4. **1031 Exchange** — Defer capital gains by reinvesting in like-kind property - 45-day identification period, 180-day closing deadline - Must be equal or greater value and debt 5. **Real Estate Professional Status** — If qualified (750+ hrs, material participation), deduct losses against active income 6. **Opportunity Zones** — Tax benefits for investing in designated areas 7. **Pass-Through Deduction (199A)** — Up to 20% QBI deduction ### Annual Tax Checklist ``` □ Track all income by property □ Track all expenses by property (receipts!) □ Calculate depreciation (include improvements) □ Document mileage for property visits □ Review 1031 exchange eligibility for any sales □ Evaluate cost segregation for new purchases □ Review RE Professional status hours log □ Consult CPA before Dec 31 for year-end planning ``` --- ## Phase 8: Portfolio Management ### Portfolio Health Dashboard ```yaml portfolio_snapshot: date: "" total_units: 0 total_value: 0 # Current market value total_debt: 0 # Outstanding mortgages total_equity: 0 # Value - Debt ltv_ratio: 0 # Debt / Value (target: <70%) monthly_gross_income: 0 monthly_expenses: 0 monthly_net_cashflow: 0 annual_cash_on_cash: 0 # % portfolio_cap_rate: 0 # % average_vacancy: 0 # % (target: <8%) properties: - address: "" type: "" # SFR, duplex, etc. units: 1 purchase_price: 0 purchase_date: "" current_value: 0 mortgage_balance: 0 equity: 0 monthly_rent: 0 monthly_expenses: 0 monthly_cashflow: 0 cash_on_cash: 0 cap_rate: 0 occupancy: 0 # % condition: "" # A, B, C, D next_action: "" # hold, refinance, sell, improve ``` ### Hold vs Sell Decision Framework **Sell when 2+ are true:** - Cash-on-cash return < 5% AND no appreciation play - Property requires >$20K deferred maintenance - Market at cyclical peak (price-to-rent ratio stretched) - Better use of equity elsewhere (opportunity cost) - Management headaches disproportionate to returns - Neighborhood in sustained decline - 1031 exchange into superior asset available **Hold when:** - Cash flow positive with growing rents - Below-market mortgage locked in - Significant depreciation remaining - Appreciation trend intact - Low management burden - Strong tenant in place ### Scaling Strategy | Portfolio Size | Focus | Key Challenge | |---------------|-------|---------------| | 1-4 units | Learn fundamentals, systems | Analysis paralysis | | 5-10 units | Hire PM, systematize | Cash flow vs growth | | 11-25 units | Team building, commercial loans | Financing complexity | | 26-50 units | Asset management, syndication | Operational complexity | | 50+ units | Institutional standards, raise capital | Compliance, investor relations | --- ## Phase 9: Short-Term Rental (STR) Operations ### STR Feasibility Analysis ``` REVENUE ESTIMATION Average Daily Rate (ADR): $______ (AirDNA, PriceLabs, comp search) Occupancy Rate: ______% (conservative: 65%, good: 75%, great: 85%) Monthly Revenue = ADR × 30 × Occupancy Rate ADDITIONAL STR COSTS (vs long-term rental) Furnishing (one-time): $5K-$25K depending on size Cleaning (per turnover): $75-$200 Supplies/amenities (monthly): $100-$300 Channel management software: $50-$200/mo Dynamic pricing tool: $20-$100/mo Professional photos: $200-$500 (one-time) Higher insurance: +$500-$2K/year Higher utilities: +$200-$500/mo (you pay all) Licensing/permits: $0-$5K/year Occupancy/tourism tax: varies (8-15% of revenue) NET = Revenue - All LTR Expenses - Additional STR Costs Compare: STR Net vs LTR Net. Need >30% premium to justify extra work. ``` ### STR Listing Optimization ``` TITLE FORMULA: [Unique Feature] + [Location/View] + [Key Amenity] Example: "Lakefront Cabin w/ Hot Tub | 5 Min to Slopes | Sleeps 8" PHOTOS (20+ required): 1. Hero shot (best exterior or view) 2. Living room (wide angle, lights on) 3. Kitchen (clean, staged) 4. Master bedroom 5. Master bathroom 6. Each additional bedroom 7. Outdoor space / patio 8. Amenities (hot tub, pool, game room) 9. Neighborhood / attraction proximity 10. Welcome touches (basket, guidebook) DESCRIPTION STRUCTURE: Para 1: The experience (emotional, what makes it special) Para 2: The space (factual, beds/baths/capacity) Para 3: The location (distance to attractions, restaurants) Para 4: The amenities (bullet list) Para 5: Guest expectations (house rules, check-in) PRICING STRATEGY: - Use dynamic pricing (PriceLabs, Beyond, Wheelhouse) - New listing: 20% below market for first 5 bookings (reviews) - Weekend premium: +20-40% - Event/seasonal premium: +50-200% - Last-minute discount: -15% within 3 days - Length-of-stay discount: 10% weekly, 20% monthly ``` --- ## Phase 10: Advanced Strategies ### Value-Add Playbook | Strategy | Cost | Rent Increase | ROI | |----------|------|---------------|-----| | Kitchen update (counters, paint, hardware) | $3K-$8K | $75-$200/mo | 12-30 months | | Bathroom refresh (vanity, fixtures, paint) | $1.5K-$4K | $50-$100/mo | 15-40 months | | Flooring (LVP throughout) | $2K-$6K | $50-$150/mo | 20-40 months | | Washer/dryer (in-unit) | $1K-$2K | $50-$100/mo | 10-20 months | | Smart home (thermostat, locks, lights) | $500-$1.5K | $25-$50/mo | 10-30 months | | Add bedroom (convert den/office) | $2K-$10K | $100-$300/mo | 7-33 months | | ADU / garage conversion | $30K-$100K | $800-$2000/mo | 15-50 months | | Utility bill-back (RUBS) | $500 | $50-$150/mo | 3-10 months | | Laundry (coin-op) | $3K-$8K | $50-$100/unit/mo | 3-13 months | ### 1031 Exchange Checklist ``` BEFORE SELLING □ Identify qualified intermediary (QI) BEFORE closing □ Document investment intent (not personal use) □ Calculate basis and estimated gain □ Identify potential replacement properties TIMELINE (Strict — No Extensions) Day 0: Close sale of relinquished property Day 45: Identify up to 3 replacement properties (or 200% rule) Day 180: Close on replacement property RULES □ Like-kind (any real property → any real property) □ Equal or greater value □ Equal or greater debt □ All equity reinvested (boot = taxable) □ Same taxpayer on both transactions □ Not personal residence (unless converted) □ QI holds funds (never touch the money) ``` ### Syndication Basics (Raising Capital) ``` STRUCTURE - GP (General Partner): You — finds deals, manages, earns fees + promote - LP (Limited Partners): Investors — passive, earn preferred return + split TYPICAL TERMS Preferred Return: 6-8% (LP gets paid first) Profit Split: 70/30 or 80/20 (LP/GP after preferred) Acquisition Fee: 1-3% of purchase price (to GP) Asset Management Fee: 1-2% of revenue (to GP) Hold Period: 3-7 years REQUIREMENTS - Securities attorney (506(b) or 506(c) exemption) - CPA experienced in syndication - Track record (start with JV, then syndicate) - PPM, operating agreement, subscription agreement - Investor relations system ``` --- ## Phase 11: Market Cycles & Timing ### Real Estate Cycle Phases ``` EXPANSION → HYPER-SUPPLY → RECESSION → RECOVERY → EXPANSION... EXPANSION (BUY) Signals: Rising rents, falling vacancy, new construction starting Strategy: Acquire aggressively, lock long-term financing HYPER-SUPPLY (CAUTION) Signals: Overbuilding, rising vacancy, rent growth slowing Strategy: Stop acquiring, focus on operations, build reserves RECESSION (PREPARE) Signals: Rising vacancy, falling rents, distress sales emerging Strategy: Hold cash, hunt distressed deals, negotiate hard RECOVERY (AGGRESSIVE BUY) Signals: Vacancy stabilizing, construction stopped, prices bottoming Strategy: Maximum acquisition mode — best deals of the cycle ``` ### Interest Rate Impact Rules - Rate ↑ 1% = ~10% reduction in purchasing power - Rate ↑ → prices soften (buying opportunity if cash flow still works) - Rate ↓ → prices rise (refinance existing, sell flips) - Always underwrite at current rates + 1% buffer - ARMs: only if plan to sell/refi within fixed period --- ## Quality Scoring (0-100) | Dimension | Weight | Score | |-----------|--------|-------| | Financial Analysis Rigor | 20% | Numbers verified, stress-tested, conservative assumptions | | Due Diligence Completeness | 15% | All inspection items checked, title clear | | Market Research Depth | 15% | Multiple data sources, trends analyzed | | Risk Assessment | 15% | Downside scenarios modeled, mitigations planned | | Legal/Tax Compliance | 10% | Jurisdiction-specific, professional consultation noted | | Operational Planning | 10% | PM, maintenance, tenant systems in place | | Exit Strategy Clarity | 10% | Hold period, triggers, 1031 optionality | | Documentation Quality | 5% | Organized, retrievable, complete records | --- ## Edge Cases ### First-Time Buyer - Start with house hack (FHA 3.5% down, live in one unit) - Build reserves before buying investment property - Get pre-approved, then find deals (not reverse) ### Remote Investing - Visit market first (fly once, walk neighborhoods) - Build team BEFORE buying: agent, PM, contractor, inspector - Never rely solely on photos — video walkthroughs minimum ### Inherited Property - Get appraisal immediately (stepped-up basis = date of death value) - Evaluate: sell, rent, or 1031 exchange - Clear title issues ASAP (probate timeline varies) ### Rising Rate Environment - Focus on cash flow over appreciation - Seller financing and assumable mortgages = gold - Negotiate price reductions (fewer buyers = leverage) - Avoid ARMs unless very short hold period ### Tenant Disputes - Document everything in writing - Follow local eviction procedures EXACTLY - Offer cash-for-keys before formal eviction (often cheaper) - Never self-help evict (illegal everywhere) ### Natural Disaster / Insurance - Get proper coverage BEFORE closing (flood, earthquake, wind separate) - Document property condition with photos/video - Keep separate reserve for insurance deductibles - Review policy annually — don't be underinsured --- ## Commands ``` "Analyze this deal" → Full rental/flip/BRRRR calculator "Screen this property" → 5-minute screening checklist "Compare these comps" → CMA analysis with adjustments "Set rent for [addr]" → Market rent analysis with comp research "Screen this tenant" → Scoring template with criteria "Review my portfolio" → Portfolio health dashboard "Should I sell [addr]" → Hold vs sell framework "STR feasibility" → Short-term rental analysis "1031 exchange plan" → Timeline and checklist "Market analysis [city]" → Full market scoring "Value-add options" → Renovation ROI analysis "Tax strategy review" → Annual tax optimization checklist ``` --- ## ⚠️ Disclaimer This skill provides educational frameworks and analysis templates. **It is not legal, tax, or investment advice.** Always consult qualified professionals (attorney, CPA, licensed agent) for jurisdiction-specific guidance. Laws vary dramatically by location. Never make investment decisions based solely on AI analysis.


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