Three tracks: residential, commercial, institutional
Residential deals are read through payment and cash-on-cash; commercial deals run from rent roll and T12 to NOI, cap rate, DSCR and IRR; institutional deals are modeled monthly, lease by lease, with probability-weighted rollover, downtime and free rent, TI / LC, NNN or base-year recoveries, floating debt with a rate cap and an LP / GP waterfall, and export a formula-linked Excel model and an institutional IC memo. Every run has an ID anyone can recompute.
A passport for every number
Key numbers record the source file, page, confidence and reviewer. With sign-in on, whoever entered a number cannot also verify it (four-eyes rule). Figures that disagree across sources are listed as conflicts and not trusted until resolved.
Verify first
Other tools tell you how many items are unverified. DealDesk ranks each one by how many basis points it can swing the main return metric, so the first line is the document to chase first.
A devil's-advocate memo, without AI
Before committee, the system writes how this deal is most likely to fail: kill criteria it barely clears, conclusions resting on one assumption, a losing downside scenario, unverified numbers. Each point comes from fixed rules, is reproducible, and is left out when the data is missing.
Max bid, solved backwards
All kill criteria (DSCR floor, cash-on-cash, IRR and more) are applied at once to solve for the highest price you can still pay, and the binding constraint is named. Drag the price to see how much room each floor has left.
From committee to post-mortem
Committee packs are generated in one step, with a chairman veto. After purchase, enter actual NOI and see which underwriting assumption the variance comes from. Roles are chairman, analyst and viewer; every change lands in an audit timeline.