LANDLORD CALCULUS — RENTAL-DEAL CHECKLIST
https://landlordcalculus.com/rental-deal-checklist

[ ] Property and price
Confirm the address, legal unit count, condition, purchase price, closing costs and initial repairs.

[ ] Rent evidence
Compare signed leases and recent comparable rentals. Keep scheduled rent separate from vacancy and other income.

[ ] Vacancy and lease-up
Allow for ongoing vacancy and any empty months immediately after purchase.

[ ] Property tax
Review the current bill and possible reassessment after a purchase. A ZIP median is not the property’s bill.

[ ] Insurance
Get a quote for this property, coverage, deductible and intended use.

[ ] Owner-paid utilities
Identify who pays electricity, gas, water, sewer and trash. Use actual bills where possible; estimates need explicit review.

[ ] Maintenance
Include recurring repairs and turnover costs as operating expenses.

[ ] Capital reserve
Keep roof, HVAC and other major replacements separate from conventional NOI. Fund a realistic cash reserve.

[ ] Management and services
Include management, HOA, lawn, snow, pest control, cleaning and other recurring costs—even when initially self-managing.

[ ] Financing
Confirm down payment, rate, points, amortization, interest-only periods, rate resets and balloon maturity.

[ ] Three separate results
Review NOI before debt, cash flow after debt and reserves, and cash required including closing and repairs.

[ ] Downside case
Stress-test lower rent, higher vacancy, higher expenses and financing changes. Save or export both cases.

[ ] Exit and next checks
Compare realistic sale costs and refinance terms. Verify all assumptions with source documents and appropriate local professionals.

Educational checklist; verify the property and obtain appropriate local professional advice.