Confirm Cap Rate ≥ 6%

Pull the listing’s Cap Rate. Reject anything below 6% unless the market is appreciation-driven (Class A urban) or the deal is a clear value-add.

Confirm Cash-on-Cash ≥ 8%

Using your actual down payment and interest rate, Cash-on-Cash should clear 8% for a buy-and-hold single-family rental.

Same bed/bath count, built within 10 years, square footage within ±15%. Median rent-per-sqft × your sqft = market rent.

Rising trend is a green flag; flat is neutral; declining is a red flag unless offset by other metrics.

Watch for recent reassessments. In FL, GA and TX taxes can jump 20–40% after sale.

In FL, HI, LA, CA, insurance can double the listed estimate. Get a real quote before you commit.

Request the current HOA financials and reserve study. Underfunded reserves = future assessments.

Check for liens, easements, unpermitted work and boundary issues. Vera Title runs this in 3–5 business days.

Budget $400–$700. Ask for roof age, HVAC age, electrical panel, plumbing, and water intrusion.

Prepare 3–5% of purchase price as appraisal-gap reserve if buying in a competitive market.

FEMA flood zone A or V adds $1,500–$4,000/yr insurance. First Street climate risk reports are free and useful.

If tenant-occupied, request the current lease, payment history and security deposit. If vacant, budget 1–2 months vacancy.