Before you buy · Evidence checklist
Check your numbers before buying
Replace estimates with property-specific records and quotes. Keep the source, date and anything still unconfirmed with your analysis.
Input names below refer to the Rental Property Calculator. Check a box when you have reviewed the evidence—not when a property “passes.” Checks last only on this page and are not saved.
Separate current leased rent from hoped-for increases. Compare similar rentals, distinguishing asking rents from achieved rents. Verify recurring extras separately.
Evidence: Signed leases, rent roll, collection records, comparable rentals and a local manager’s assessment.
Oycora input: Total monthly rent / rent by unit; Other recurring income.
Consider turnover, leasing time and collection history. Replace the demo’s vacancy percentage with a property-specific assumption.
Evidence: Occupancy and collection history, recent leasing experience and local manager estimates.
Oycora input: Vacancy assumption. Rental Property reduces rent and other recurring income; standalone Cash Flow leaves other income unreduced.
Ask whether a purchase, changed exemptions or assessments could change the bill. Rules vary by location; the seller’s bill may not be your bill.
Evidence: Current tax bill, parcel record and guidance or an estimate from the local assessor.
Oycora input: Property taxes. Check whether you entered a monthly or annual amount.
Describe the intended rental use. Confirm coverage, exclusions, deductibles and any additional policies with the insurer.
Evidence: Written property-specific quotes and coverage terms—not just the seller’s premium.
Oycora input: Insurance. Plan separately for cash needed to cover deductibles.
List immediate work, routine upkeep and major replacements separately. Record condition, timing and cost; do not budget the same work twice.
Evidence: Inspection findings, specialist checks where needed, contractor estimates and component ages.
Oycora input: Initial repairs for upfront work; Maintenance for routine upkeep; CapEx reserve for future replacements.
Check management fee bases and extra charges, utilities, HOA dues and other services. Identify special assessments separately from regular dues.
Evidence: Management agreement, leases, utility bills, HOA documents and service quotes.
Oycora input: Property management; Owner-paid utilities; HOA; other operating expenses. Switch Analysis detail to Detailed for HOA, utilities and custom expenses. If a fee basis differs, use a supported fixed estimate and revisit it when assumptions change.
Confirm rate, amortization, loan term, mortgage insurance, recurring charges and any reset or balloon. Do not force an unsupported loan structure into a standard payment model.
Evidence: Written lender quote or term sheet and applicable loan disclosures; requirements vary by lender and loan type.
Oycora input: Purchase financing; Down payment; Interest rate; Loan term; Mortgage insurance; Other recurring financing costs.
Separate acquisition costs, immediate repairs, prepaids/escrows and cash kept available after closing. Reconcile credits and deposits against the settlement estimate.
Evidence: Purchase agreement, lender/settlement estimate, repair quotes and lender reserve requirements.
Oycora input: Purchase price; Down payment; Closing costs; Initial repairs; Other upfront costs. There is no dedicated upfront reserve field: keep that liquidity budget separate. Total cash invested is not a cash-to-close quote.
Try lower rent, more vacancy and higher costs individually and together. Compare alternative financing at purchase; a market-rate change alone does not reset an existing fixed-rate loan.
Evidence: Supported downside assumptions and a list of unresolved quotes or questions.
Oycora input: Revisit the same fields. Compare pre-tax cash flow and break-even occupancy together; neither is a buying verdict.
Keep these costs separate
Operating expenses reduce NOI. CapEx reserves, principal-and-interest debt service and other recurring financing costs reduce pre-tax cash flow afterward. Taxes and insurance already entered as operating costs must not be deducted again through an escrow-inclusive loan payment.
In Rental Property, percentage management uses collected rent only; percentage maintenance and CapEx use scheduled rent. An upfront cash buffer is separate from the recurring CapEx allowance. Reconcile reserve funding and reserve-funded replacements to avoid counting the same cost twice.
Put the evidence into your analysis
Analyze your propertyThis checklist helps verify financial assumptions. It does not replace property, legal or lender due diligence, or guarantee an investment outcome.
For a closer look
- Analyzing a rental property
- Expenses, reserves and cash flow
- Vacancy conventions · Percentage expense bases · Pre-tax cash flow
- CFPB: compare loan estimates — where these disclosures apply; otherwise request the lender’s written terms.
Reviewed October 17, 2026. Tax and rental rules vary by jurisdiction; verify locally. Insurance terms and financing requirements are property- and lender-specific.
Full linked references: oycora.com/checklists/rental-property/