Information to help you arrive prepared.

Prepare these five points

1. Financing: talk with a lender and compare the estimated and verified total monthly cost, not only principal and interest.
2. Available funds: separate the down payment, closing costs, inspection, appraisal, and reserves.
3. Priorities: divide needs from preferences, including area, size, bedrooms, HOA, and commute.
4. Timing: define when you need to move and how much time you can give the process.
5. Risks: review condition, insurance, flood exposure, permits, and association rules when applicable.

Numbers to review

1. Initial capital: down payment, closing, inspections, improvements, and reserves.
2. Effective income: likely rent minus vacancy and concessions.
3. Operating expenses: property taxes, insurance, HOA, maintenance, management and utilities. Capital reserve is kept outside NOI and subtracted afterward when calculating cash flow.
4. Debt: mortgage payment and terms that affect monthly cash flow.
5. Exit strategy: hold, refinance, improve, sell, or change a permitted use.

A clear starting point

1. The property: gather features, condition, improvements, included services and the expected availability date.
2. The rent: review comparables, expenses and maintenance to discuss pricing and terms.
3. The presentation: prepare photos you own or are authorized to use, and verify every detail before advertising.
4. The process: review association rules, applications, the lease and disclosures with the appropriate professionals.
5. The handover: plan the inventory, condition record, keys and maintenance contact.

Download the owner checklist ↓

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