Specify your buy box
Document the geography, property type, unit count, acquisition budget, renovation limit and holding period. Include practical constraints such as access to contractors and management. Set a review date so your criteria can evolve without changing for every listing.
Keep discovery separate from approval
Listing feeds and alerts help find candidates. They do not validate rental income, title, condition or financing. Record the listing URL, date seen, asking price and the source of any income claim. Put missing information in an open-items column rather than assuming that it is favorable.
When comparing properties, use the same definition of floor area, rent period and expense categories. Gross rent alone cannot show whether a property will produce positive cash flow.
Use a consistent first screen
Estimate rent from comparable properties, then allow for vacancy, taxes, insurance, management, repairs and owner-paid utilities. Add debt service and an explicit capital reserve. Flag unusual lease terms, deferred maintenance and large differences between current and projected income.
Keep assumptions visible. A low listing price can reflect work or risk that the headline does not explain.
Manage the acquisition pipeline
Use stages such as discovered, screened, documents requested, inspected and decision made. Give each open item an owner and deadline. Before an offer, verify the rent roll and leases, obtain financing terms, and arrange the appropriate inspections and title review.
Archive rejected candidates with a short reason. Over time, that record helps reveal whether your criteria are realistic and which assumptions need better evidence. Ask about the availability and scope of any search service in your intended market before relying on a particular feed or alert.
Put the research into your property plan
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