When the Rent Roll Says “Stabilized” But the HVAC Is Freelancing
Expectation: 6.0% cap, turnkey, passive income 😎 Reality: 18 addendums, lender wants selfies with every tenant estoppel and an SNDA Property Manager: 'Roof is fine' — also Property Manager: buys 47 buckets at Home Depot Me underwriting at 2am: if Excel crashes, the cap rate does too 🧮
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