Record rental income under current leases separately from rent you expect to receive in the future. Note each figure’s source and date, and identify what to check against leases and income records.
List expenses to review, such as taxes, insurance, maintenance, management, and utilities. Separate documented figures from estimates and mark unverified items as unknown rather than zero. Review financing plans separately from operating expense records.
Check whether nearby rental comparisons reflect similar conditions and an appropriate time period. Rental demand and potential resale demand are different questions; identify the information needed for each.
Before a conversation, outline your investment goal, budget range, financing plans, unit count, renovation scope, and timing. Estimates do not guarantee results, and figures based on incomplete records should not be presented as verified returns.