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    Birmingham 2-bed at £830,700 and £2,211 rent: does it work?

    When the survey arrives, ask which items are urgent, which are maintenance and which are merely observations. Then seek costs for the material items. Otherwise a long report can distort the model in either direction.
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    Manchester 5-bed duplex at £963,300 and £3,773/month — do the numbers work?

    Separate the property test from the financing test. First calculate the unlevered net yield after every recurring cost and a realistic turnover allowance. Then run the borrowing costs independently at the proposed rate and at a higher rate, rather than letting leverage disguise a weak underlying...
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