Multiplex Readiness Checklist

A practical roadmap to underwrite, finance, and operationalize a 2–4+ unit property — with autosave, export, and a built-in deal analyzer.

Deal analyzer

Open tool

Docs & rent roll

Gather actuals

Financing

Confirm DSCR rules

Checklist

0/25 completed

Deal Analyzer (NOI • Cap • DSCR • CoC)

Guidance only. Use lender/broker numbers for decisions.

Purchase & Income

Purchase price

Down payment

Interest rate

Amortization

yrs

Closing costs

# of units

Avg rent / unit (mo)

Other income (mo)

Vacancy

Operating Expenses

Annual OpEx (fixed)

Mgmt fee

Capex reserve

Results (estimates)

GPI (annual): $0

EGI (after vacancy): $0

OpEx (annual, total): $0

NOI: $0

Debt service (annual): $0

Cash flow (pre-tax): $0

Cap rate: 0.0%

< ~5% Low

DSCR: 0.00

< ~1.20 Low

Cash-on-cash: 0.0%

< ~6% Low

Break-even occupancy: 100.0% • Break-even vacancy: 0.0%

Indicative only; actual limits and calculations vary by lender, product, insurer and municipality.

Learn more about DSCR: Confirm DSCR Rules

Acquisition strategy

Define target (2–4 units+), location, condition, and hold/BRRRR plan.

Done	Task	Due date	Notes
	Clarify criteria: unit count, location, budget, condition, yield target
	Define operating model (self-manage vs. property manager)
	Run scenarios in Deal Analyzer (actuals vs. pro forma) Open analyzer

Clarify criteria: unit count, location, budget, condition, yield target

Due

Notes

Define operating model (self-manage vs. property manager)

Due

Notes

Run scenarios in Deal Analyzer (actuals vs. pro forma)

Open analyzer

Due

Notes

Financing & lender requirements

Pre-approval, DSCR expectations, and documentation.

Done	Task	Due date	Notes
	Get pre-approval (rate hold) and confirm DSCR/NOI documentation Planning session
	Confirm DSCR rules and stress-rate used by lender Confirm DSCR Rules
	If self-employed, prepare 2 yrs T1/NOA or corporate package Self-Employed Toolkit

Get pre-approval (rate hold) and confirm DSCR/NOI documentation

Planning session

Due

Notes

Confirm DSCR rules and stress-rate used by lender

Confirm DSCR Rules

Due

Notes

If self-employed, prepare 2 yrs T1/NOA or corporate package

Self-Employed Toolkit

Due

Notes

Property financials

Underwrite with actuals & pro forma: NOI, Cap Rate, DSCR, CoC.

Done	Task	Due date	Notes
	Collect rent roll, leases, and any arrears/history
	Get last 12–24 months utility/tax/insurance/maintenance statements
	Build year-1 budget (vacancy, mgmt, capex reserve) and compute NOI/DSCR Use analyzer

Collect rent roll, leases, and any arrears/history

Due

Notes

Get last 12–24 months utility/tax/insurance/maintenance statements

Due

Notes

Build year-1 budget (vacancy, mgmt, capex reserve) and compute NOI/DSCR

Use analyzer

Due

Notes

Due diligence

Inspections, environmental, zoning, parking, fire & life safety.

Done	Task	Due date	Notes
	Home inspection + specialist quotes (roof, foundation, plumbing, electrical)
	Fire code: alarms, separations, exits; verify legal unit count
	Zoning/by-law search, parking, and any open permits/orders

Home inspection + specialist quotes (roof, foundation, plumbing, electrical)

Due

Notes

Fire code: alarms, separations, exits; verify legal unit count

Due

Notes

Zoning/by-law search, parking, and any open permits/orders

Due

Notes

Legal & compliance

Leases, LTB/RTB rules, rent control, suite legality & permits.

Done	Task	Due date	Notes
	Review leases & addendums; confirm deposits, rent increases and LTB/RTB status
	Check rent control rules and turnover restrictions for the property
	Confirm suite legality / occupancy certificates (if required)

Review leases & addendums; confirm deposits, rent increases and LTB/RTB status

Due

Notes

Check rent control rules and turnover restrictions for the property

Due

Notes

Confirm suite legality / occupancy certificates (if required)

Due

Notes

Renovations & CAPEX plan

Scope, budget, timelines, vacancy planning, contractor vetting.

Done	Task	Due date	Notes
	Create CAPEX plan (roof, windows, HVAC) with priority & cost ranges
	Get 2–3 contractor quotes and timeline impacts on vacancy

Create CAPEX plan (roof, windows, HVAC) with priority & cost ranges

Due

Notes

Get 2–3 contractor quotes and timeline impacts on vacancy

Due

Notes

Operations & property management

Systems for leasing, screening, maintenance, bookkeeping.

Done	Task	Due date	Notes
	Set PM systems: rent collection, maintenance, screening
	Bookkeeping stack: separate bank/credit card, chart of accounts

Set PM systems: rent collection, maintenance, screening

Due

Notes

Bookkeeping stack: separate bank/credit card, chart of accounts

Due

Notes

Insurance & risk

Coverage, liability, flood/fire, deductibles, and risk mitigation.

Done	Task	Due date	Notes
	Get landlord policy quotes (building, liability, loss of rent)
	Request insurer’s inspection requirements (handrails, detectors, etc.)

Get landlord policy quotes (building, liability, loss of rent)

Due

Notes

Request insurer’s inspection requirements (handrails, detectors, etc.)

Due

Notes

Closing & transition

Estoppel, key handover, utility transfers, rent roll verification.

Done	Task	Due date	Notes
	Lawyer engaged; confirm title search, estoppel/tenant ack, key list
	Set utility transfers and pro-ration of rents/taxes

Lawyer engaged; confirm title search, estoppel/tenant ack, key list

Due

Notes

Set utility transfers and pro-ration of rents/taxes

Due

Notes

After closing

Stabilization, rent reviews, refinances, and reporting cadence.

Done	Task	Due date	Notes
	Stabilize operations; update rents in system; set inspection cadence
	Track performance monthly; consider refinance when appropriate

Stabilize operations; update rents in system; set inspection cadence

Due

Notes

Track performance monthly; consider refinance when appropriate

Due

Notes

Your custom tasks

Add anything unique to your deal.

Done	Task	Due date	Notes

Helpful tools & services

Run scenarios: Deal Analyzer • Confirm DSCR Rules
Self-employed or complex income? Self-Employed Mortgage Toolkit
Work with us: Client portal • Planning session

This page is educational and general. Policies and rules vary by lender, insurer, and municipality, and can change. Verify details with official sources and your professional advisors.