Your first property evaluation

Build the case.
Then challenge it.

Work from your limits to the evidence, then to the numbers. An unknown is a next action—not a reason to invent an answer.

Exploring a fictional example. Start your own evaluation for an empty worksheet. Saved only in this browser. You can return to examples without losing your personal draft.

Explore the worked example

Which operating model are you evaluating?

Compare both on the same purchase and financing assumptions. Use separate revenue evidence, operating budgets and setup costs.

Set your limits

Record cash budget, weekly time, a reserve floor and a tolerable shortfall.

Define my criteria

Check whether the strategy is possible

Verify address-specific rental permissions, permit availability, HOA and loan terms for the intended use.

Record feasibility evidence

Build the property worksheet

Document financing, realistic revenue and each operating cost. Use “I don’t know yet” to flag research.

Build the budget

Test a weak year

Reduce revenue, raise operating costs and place a repair in a specific month.

Stress the assumptions

Connect the downside to your fallback

Carry the remaining STR cash through conversion costs, no-income months and a year of LTR operation.

Follow the cash

Make a decision record

Separate financial concerns from missing evidence. Record what to investigate, revise or pass on.

Review my next actions