A typical standard-scope Relm Report engagement runs 3–5 business days. Here's what happens in each phase.
Day 0 — Kickoff
After the SOW is signed:
- An analyst is assigned (sometimes two for complex deals).
- A dedicated chat channel or email thread is set up for the engagement.
- The analyst confirms the property URL, your uploaded documents, and any specific emphasis you flagged on the call.
Day 1 — Data validation
The analyst:
- Pulls the latest Deep Search and AI Summary output.
- Spot-checks each cited number against the source (sample-by-source, every section).
- Flags discrepancies between the rent roll, P&L, and public-records data.
- Notes anything that needs a follow-up question.
If they have questions, you'll see one batch of clarifying questions on Day 1 — answers help shape the rest of the engagement.
Day 2 — Comps & market
The analyst:
- Re-runs comps with manual judgment — pinning relevant ones, rejecting outliers, possibly pulling in pocket-listing comps from broker contacts.
- Validates the submarket framing — is the property really in the submarket the AI placed it in, or is it on the edge?
- Adjusts rent and expense growth assumptions based on their judgment of the local market.
Day 3 — Pro-forma & narrative
The analyst:
- Reviews the AI-generated pro-forma against their tuned assumptions.
- Adjusts debt assumptions to match a realistic term sheet for the deal.
- Tightens the narrative voice — IC-ready language, no AI-isms.
- Builds the risk register with explicit probability/impact framing.
Day 4 — Quality review
A second analyst (peer review) reads the draft, focusing on:
- Internal consistency — do the numbers in the narrative match the table?
- Citations — every claim has a source.
- Recommendation framing — is the buy/pass/conditional language defensible?
Day 5 — Delivery
We email you when the report is ready, and it appears in Relm under Reports — PDF and/or Word.
What you actually receive
- The report — a finished PDF and/or Word document, scoped on your call to what your IC or lender needs.
- A citations appendix — every source listed with URL or document page reference.
- A return summary table — IRR, equity multiple, DSCR per year, key sensitivity bands.
- Optional supporting Excel — the underlying pro-forma model, exportable.
What to plan for
- Have your Relm org set up before kickoff (the property and uploads should already be there).
- Be available for clarifying questions on Day 1.
- Allocate time for revisions after delivery — we iterate with you until the report is ready.
Rush turnaround
A 24–48 hour rush compresses Days 1–4 into one cycle with overlapping work. The deliverable is the same scope and quality; you pay an uplift for the schedule pressure, confirmed on your scoping call. See Schedule a Relm Report.