Condition
Review inspections, system ages and near-term capital work. Carry explicit contingencies for uncertainties that remain unresolved.
Decision intelligence
Underwrite the downside.
A useful risk review identifies what can change, what it would cost, and how you would respond.
Tenant risk
Review leases, deposits, payment records and obligations through appropriate due diligence. Apply objective, lawful screening practices and seek local advice on landlord requirements.
HOA / condo
Read budgets, governing documents, rental restrictions, insurance and reserve studies. Confirm any restrictions that would affect the intended use or financing.
Special assessments
Ask about approved and contemplated assessments and major projects. Determine responsibility under the contract rather than assuming costs stay with the seller.
Market liquidity
Consider the likely buyer pool and the cost of a longer sale period. Specialized properties can create additional exit constraints.
Financing & exit constraints
Stress-test rates, vacancy and expenses. Understand loan maturity, prepayment terms and dependencies on a future sale or refinance.