How to Underwrite a Small Multifamily Deal: 2026 Operator Playbook
Moving from SFR to 5–20 unit multifamily means new rules, commercial loans, and a completely different valuation framework. Here is the full underwriting playbook for 2026.
Guides, calculators, and analysis to help you make smarter investment decisions
Congress permanently restored 100% bonus depreciation in July 2025. Here's how to use straight-line depreciation, cost segregation, and the passive activity rules to slash your 2026 tax bill.
National multifamily cap rates have plateaued near 5.6%–5.7% — the longest streak in 25 years. Here's why compression is coming, where it will hit first, and how to position ahead of it.
Cash-out refi rates for investment properties sit at 7.5–8.5% in mid-2026. Here's how to model your BRRRR returns across rate scenarios before you pull the trigger.
A data-driven breakdown of how Section 8 voucher math works for landlords in 2026: FMR vs. SAFMR, NSPIRE inspection rules, rent reasonableness, and a real duplex cash-flow model.
Single-point projections fail in a 7%-rate, 7.3%-vacancy environment. Here is how to build a real sensitivity grid and find exactly what breaks your deal.
House hacking offsets your mortgage with rental income, but "live for free" only works with the right property type and the right market. Here's how the 2026 math actually pencils — and where it doesn't.
Cash flow markets are specific counties, not states. The right cities pair high gross yields with manageable tax burdens, stable employer bases, and operator-friendly tenant pools. Here are the 2026 picks worth underwriting.
A 7% cap rate is great in Phoenix and brutal in Manhattan. The right cap rate depends on your market, your strategy, and what's eating your net yield. Here's how investors should actually think about it.
Learn how to properly analyze rental properties with unpermitted additions, including valuation adjustments, risk assessment, and negotiation strategies.
Learn how to analyze mixed-use properties with both residential and commercial units. Covers valuation methods, income weighting, cap rates, and financing options.
Learn how Section 8 rent calculation works, how to find Fair Market Rent for your area, and what payment standards mean for your rental property income.
Learn how to properly analyze rental properties with below-market rents, including pro forma projections, rent increase timelines, and avoiding common investor mistakes.
Learn how to analyze rental properties with existing Section 8 tenants, including HAP contract transfers, rent verification, and due diligence steps.
Compare Section 8 vs market rate tenant cash flow across single-family, duplex, and multifamily rentals. Real numbers on rent premiums, vacancy rates, and hidden costs.
Learn how solar panel leases affect rental property investment returns. Covers lease transfers, cash flow impacts, due diligence, and how to factor solar leases into your deal analysis.
Learn how to accurately budget rental property insurance costs in your deal analysis, including landlord policies, liability coverage, and common premium factors.
DSCR loan requirements let you qualify based on rental income, not W2s. Learn the minimum DSCR ratio, credit score, and down payment needed in 2025.
Yes, you can house hack with just 5% down using conventional loans. Learn about HomeReady, Home Possible, and standard conventional options for 2-4 unit properties.
A real cost breakdown comparing self-managing rentals versus hiring a property manager. Includes per-door analysis, hidden costs, and when each option makes financial sense.
Learn which vacancy rate assumptions to use when analyzing rental properties, from tight urban markets to seasonal college towns and everything between.
CapEx reserves vary significantly by property age. Learn how to calculate the right capital expenditure reserve for 1950s vs 1990s rental properties with specific component timelines.
Learn how to accurately calculate cash-on-cash return when using seller financing. Includes formulas, worked examples, and common mistakes investors make.
Compare DSCR and conventional loans for rental properties with real numbers. See how interest rates, qualification requirements, and scalability affect your investment returns.
When contractor quotes blow past your rehab budget, the BRRRR math changes. Learn how to adjust your analysis and decide if the deal still works.
BRRRR rarely returns 100% of your capital. Here's how to evaluate deals when the refinance leaves money behind and what to do about it.
Compare hard money vs private money for BRRRR deals with real cost breakdowns. See which financing actually works better for your next investment property.
Properties with below-market rents offer upside but require careful analysis. Learn how to value rent increases, model realistic timelines, and avoid common mistakes.
Learn how assumable mortgages affect rental property returns. See the math on cash flow, down payment, and ROI when assuming a seller's low-rate FHA or VA loan.
Learn how to analyze subject-to deals for rental properties, including evaluating seller motivation, loan terms, equity positions, and the real risks involved.
See exactly how house hacking a triplex with FHA financing works with real numbers from an actual deal, including the math on living for free.
Property taxes can jump 30-50% after purchase due to reassessment. Learn how to calculate your actual post-purchase tax burden before buying a rental property.
Should you live in the smallest unit of your house hack to maximize rental income? The math behind the worst unit strategy and when it actually makes sense.
Learn how to analyze VA loan house hacks with zero down payment. Step-by-step guide to buying a duplex or fourplex using your VA benefit.
Compare the real numbers on house hacking a duplex vs triplex. We break down cash flow, down payments, and living costs with specific examples.
Learn how to accurately calculate investment returns on properties with ADUs. Includes formulas, a worked example, and common mistakes to avoid.
A low BRRRR appraisal doesn't have to kill your deal. Learn your options for disputing, waiting, or adjusting your strategy when the appraised value falls short of ARV.
Learn how to properly analyze a duplex with an existing tenant. Covers rent verification, lease assignment, below-market rent scenarios, and running accurate cash flow projections.
Learn exactly what to verify on a seller-provided rent roll before buying a rental property. Covers actual vs pro forma rents, lease terms, and red flags.
Cash-on-cash return is one of the most important metrics for real estate investors. Learn the formula, see examples, and understand what makes a good CoC return.
Cap rates vary by market, property type, and risk level. Discover what cap rates to expect and how to evaluate them for your investment strategy.
House hacking is one of the best ways to get started in real estate investing. Learn strategies for duplexes, ADUs, and rent-by-room approaches.
Section 8 can provide guaranteed rent payments and stable tenants. But is it right for your portfolio? We break down the advantages and challenges.
A step-by-step walkthrough of underwriting a 2-20 unit multifamily property. From rent rolls to NOI, learn what experienced investors look for.
Buy, Rehab, Rent, Refinance, Repeat. The BRRRR method can help you scale your portfolio faster. Learn how to execute each step successfully.
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