Underwrite a San Antonio Rental

Build a sourced spreadsheet to underwrite, fund, operate, and exit a rental.

Introduction

30 Second Summary

A rental can look profitable until taxes, repairs, financing, or a job change put pressure on the numbers. A sound decision tests those pressures before money is committed.

In this project, you will run a fictional San Antonio rental deal while two separate Claude chats play different roles. You will use LibreOffice Calc to test the deal in an offline workbook before you negotiate, operate, exit, and score it.

What You'll Build

You will open one local deal workbook and see whether the rent carries the property plus its funding burden.

By the end of this project, you'll have:

A sourced rental deal desk that flags missing inputs and shows whether the house pays for itself.
A tested funding decision that shows whether your personal cash flow can carry the extra payment after a job loss.
Three printable deal documents covering your decision, negotiated offer terms, and final close-out judgment.
Secret Mission: Exit the fictional deal, complete a live reality check, and score your work without opening the sealed check early.

Are there any prerequisites?

You need a Windows computer, internet access, and a phone number or Google account if you need to create a Claude account.

This fictional study simulation is not legal, tax, lending, or investment advice.

Before We Start

Before any files or figures enter the simulation, you need a clear question that keeps the decision honest. This commitment anchors every later choice to the rental's costs and the personal burden of a 401(k) loan after a job loss.

Set Up Your Deal Simulation

A fast deal simulation can break down when files, roles, or decision limits get mixed together. Your first job is to create clear boundaries before a listing appears.

This step gives every future file one home. It also keeps the game master separate from the builder.

In this step, get ready to:

Create one local folder with Windows File Explorer for every simulation file.
Confirm LibreOffice Calc 26.8.1 opens successfully.
Separate the game master from the builder in two Claude chats. Record your starting position in a local note.

Create the project folder and prepare Calc

The project folder keeps every workbook, PDF, note, and exported file together. LibreOffice Calc provides the offline spreadsheet workspace you use later.

Press the Windows key to open Windows search.
Type File Explorer and press Enter.

You should see Windows File Explorer open.

Select your Desktop folder in the navigation pane.
Use File Explorer's new-folder control to create San Antonio Rental Carry Test.

Good. You should see San Antonio Rental Carry Test on your Desktop. This folder is now the single home for the simulation record.

Press the Windows key to open Windows search.
Type LibreOffice Calc and press Enter.
Open LibreOffice Calc's version information from its help menu if the application starts.
Choose the tab below that matches what you see.

✔️ I See the Required Version

Your version information shows 26.8.1.

Close the version information screen.
Close LibreOffice Calc.

LibreOffice Calc has opened successfully. Your offline spreadsheet tool is ready for the deal desk.

ⓧ I See an Older Version

The installed version is older than the version used for this simulation. Install 26.8.1 so the workbook instructions match your screen.

Open the official LibreOffice download page.
Download the Main Installer for Windows x86-64 version 26.8.1.
Open the downloaded Main Installer.
Keep the default installation options.
Allow Microsoft Office file types when the installer asks.
Select Install.
Approve User Account Control if it appears.
Select Finish.

The updated installation is complete. Now confirm that the required version opens.

Press the Windows key to open Windows search.
Type LibreOffice Calc and press Enter.
Open the version information screen from the help menu.
Confirm that it shows 26.8.1.
Close LibreOffice Calc.

You should now have the required version ready for the offline workbook.

ⓧ LibreOffice Calc Is Missing

LibreOffice Calc is not installed yet. The official Main Installer adds the spreadsheet tool required for this simulation.

Open the official LibreOffice download page.
Download the Main Installer for Windows x86-64 version 26.8.1.
Open the downloaded Main Installer.
Keep the default installation options.
Allow Microsoft Office file types when the installer asks.
Select Install.
Approve User Account Control if it appears.
Select Finish.

The installation is complete. The next check proves that Calc starts correctly.

Press the Windows key to open Windows search.
Type LibreOffice Calc and press Enter.
Open the version information screen from the help menu.
Confirm that it shows 26.8.1.
Close LibreOffice Calc.

You should now have LibreOffice Calc ready for the offline deal desk.

Having trouble installing LibreOffice?

Make sure you downloaded the Windows Main Installer from the official LibreOffice page. Reopen the installer if the application does not appear in Windows search.

You can get help with a LibreOffice installation problem. You can also review the official Windows installation guide.

Open the sealed game master and blank builder chats

The game master controls the fictional market and counterparties. The builder later creates the spreadsheet without seeing the simulation card.

Your account credentials stay outside the simulation messages. The two chats only receive the material assigned to their roles.

Open Claude in your browser.
Sign in to your Claude account if you already have one.
Create a Free account if you need one.
Start a new Claude chat.
Name the first chat Rental Deal - Game Master.

This part is intentionally fiddly because the card must stay sealed. Copy the whole block without reading through it.

Copy the complete sealed game master card below without reading it:

GAME MASTER CARD. You run a real estate deal simulation. Play every other person, one at a time; say who speaks. The learner is the investor.
RULES: Never compute the learner's numbers, pick their funding, write their documents or decide ("that is your call"). Use only this card; anything else: "I don't know". Reveal the HIDDEN FACT only to a question that would find it in real life, and never in shown reasoning. Release any fact when asked. Close, run and exit only when the learner is ready.
START (narrator): "You live in your own duplex and own two San Antonio rentals with loans of 172,000 USD in total; two flips done. Savings 24,000. 401(k) vested 74,000; the plan allows loans. Roth IRA 25,000 (14,000 your contributions). Salary 98,000. Your company may reorganize. Coworker Marcus offers to invest. You want a 3-bed rental in the San Antonio suburbs, at most 200,000, that pays for itself." Then wait.
AGENT Rosa: wants a buyer agreement; yes is enough.
A: 3-bed brick, Converse, list 189,000, rent-ready; seller downsizing. Rent comps 2,000 / 2,050 / 2,095. Listing taxes 2,443 a year. Insurance 1,740.
B: 3-bed, Live Oak, list 172,000, old roof, bid 14,500. Rent comps 1,900 / 1,950. Taxes 3,600, insurance 2,280. Seller firm.
LENDER Omar: 15 percent down, 30 years, 7.875 percent, lender-paid mortgage insurance in the rate, closing costs 5,600; A appraises at 188,000. Any documented source can be the down payment. Reserves: 6 months of new PITI plus 2 percent of the other rentals' loans (your home not counted); savings count in full, the 401(k) and Roth at 60 percent after any loan (his rule).
PLAN: lends up to the lesser of 50,000 or half the vested balance; fixed 8.5 percent; payroll over 60 months; funds 10 business days after the request. Leaving the job: the unpaid loan is offset; roll that amount into an IRA by your tax return due date (with extensions), or it is taxed, plus 10 percent under 59 1/2.
INSPECTOR Pat (A): no major defects.
BANK: HELOC on your duplex, up to 30,000, 9.25 percent variable, interest only.
MARCUS: 15,000 as a partner for 40 percent of the house's cash flow and sale profit, and a sale vote.
SELLER Mrs. Ortega (A): accepts 187,500 or more; to less, counters 187,500; accepts 185,000 only with a reason (the district value, the true tax, or a clean 14-day close). Close in 14 days.
HIDDEN FACT (A): the listing taxes include the seller's homestead exemption. Reveal only if anyone is asked whether the taxes include exemptions, or the appraisal district is asked: market value 182,000; homestead on record; school rate 1.05, other units 1.10 percent. A landlord gets none: this year's bill stays 2,443; from next year 3,913. Omar underwrites 3,913.
CLOSING: a plan loan requested by acceptance day funds on time; each day later costs 500 of extension, or a bridge from savings or Roth contributions.
RUN (stop, wait at each): month 2 a tenant signs a 12-month lease at 2,050. Month 5 the AC compressor fails: 2,300. Month 8 layoffs announced: ask the learner for their 401(k) loan plan. Month 12 you keep your job; the tenant renews at 2,095.
EXIT (month 12, when asked): insurance 1,860; value 190,000; selling costs 8 percent.
MEMO READER: when the learner pastes the memo, Omar asks once: "If you are laid off in year two, how do you pay both the mortgage and the 401(k) loan, and what happens to the loan balance?"

Why keep the card sealed?

The card gives the game master every fictional role and fact required for the simulation. Keeping it unread protects your later questions from advance knowledge.

The game master supplies facts when your questions uncover them. You still choose every input and decision.

Paste the copied card into the message box in Rental Deal - Game Master.
Send the message.
Collapse any reasoning or extended-thinking display that opens.
Wait for the narrator to state your starting position.

You should see the narrator describe your fictional position. The game master is now running without exposing its sealed instructions.

Start a second Claude chat.
Name the second chat Rental Deal - Builder.

Claude's chat list should now show both titles as separate conversations.

Leave Rental Deal - Builder blank.

The builder chat must contain no game master card text. This separation prevents the future workbook builder from influencing the fictional market.

Did the card enter the builder chat?

Discard the builder chat that contains the card.
Start a fresh blank chat named Rental Deal - Builder.

You can get help separating the two Claude chats if the roles still look mixed.

Write your starting position

Your position note sets the limits you use before any property appears. This stops a listing from rewriting your standards after you see it.

What belongs in the position note?

A buy box records the property type, area, top price, and what each month must cover.
A walk-away condition records the fact or result that makes you stop.
A prediction records whether you think the deal works and why.

Press the Windows key to open Windows search.
Type Notepad and press Enter.

You should see a blank Notepad document.

Write the three lines described above using your own choices.
Save the note as Position Note inside San Antonio Rental Carry Test.

Return to Windows File Explorer.
Open San Antonio Rental Carry Test.

You should see Position Note inside the folder. Your decision limits now exist outside the AI chats.

Before the final check, do you expect every role and artifact to be separated correctly? Hold that prediction while you inspect the setup.

Confirm that Windows File Explorer shows Position Note inside San Antonio Rental Carry Test.
Open Position Note.

You should see your buy box, walk-away condition, and initial prediction.

Switch back to Claude in your browser.
Confirm that the chat list shows Rental Deal - Game Master and Rental Deal - Builder.

You should see two separate chat titles.

Select Rental Deal - Game Master.

You should see the narrator's starting position. Any reasoning or extended-thinking display should remain collapsed.

Select Rental Deal - Builder.

You should see a blank builder chat with no game master card. That separation is the foundation for an honest simulation.

Your deal room is ready. Next, you will screen the fictional leads against the limits you wrote before seeing them.

Screen and Select a Lead

Your position note now holds your buy box, walk-away condition, and prediction. Those boundaries give you a consistent way to judge the listings you receive.

A buy box earns its place when it removes weak leads. You will screen both listings before analysis so one tempting detail cannot pull you into justifying every property.

In this step, get ready to:

Handle Agent Rosa's representation request only inside the simulation.
Screen leads A and B against your buy box using sourced facts.
Document one lead selection with its first risk to test.

Keep representation inside the simulation

Agent Rosa may require a buyer agreement before sharing listings. Your acceptance applies only inside this fictional simulation.

Switch back to the Rental Deal - Game Master chat from earlier.
Send Agent Rosa a request for all available listings.
Accept the buyer agreement inside the simulation if Agent Rosa requests it.
Leave the existing reasoning or extended-thinking display collapsed.

Good. The game master chat now contains the listings you need to screen.

The real form name belongs in your note for later professional review. It stays separate from the fictional agreement you just accepted.

Return to the position note from earlier.
Add Buyer/Tenant Representation Agreement - Long Form (TXR 1501) as a later professional-review reference.
Skip downloading any real form during this simulation.
Leave any real form unsigned during this simulation.
Save the position note.

You should see the exact form name beside your buy box, walk-away condition, and prediction.

Why keep representation simulated?

The simulated acceptance lets Agent Rosa continue playing the fictional agent role.

The Buyer/Tenant Representation Agreement - Long Form (TXR 1501) entry gives you a clear item for later professional review without bringing a real agreement into the exercise.

Compare the leads on one page

A screening table makes the same questions apply to every lead. Each field contains a game-master fact or unknown.

Add a table to the position note with rows for leads A and B.
Label the columns Lead, Type and area, Price, Rent evidence, Condition, Tax and insurance, Unknowns, and Buy-box result.

You should now see one consistent set of fields for both leads.

Complete lead A's row under the source rule above.
Complete lead B's row under the same source rule.

Each row should now contain only facts supplied by the game master or cells marked unknown.

Complete the Buy-box result column for both leads using the limits in your position note.

You should now be able to point to the exact buy-box rule behind each result.

Leave the Rental Deal - Builder chat blank during lead selection.
Save the completed screening table in the position note.

What makes this a sourced screen?

Facts come only from the game master. Unstated details stay visible as unknown.

The Buy-box result column applies your existing rules to those facts. This keeps evidence separate from your judgment.

Turn the screen into a decision

Your selection note has exactly two lines. The first records your choice with evidence, while the second records the first uncertainty to test.

Add one line beginning with Pick: that names one lead with one factual reason.
Add one line beginning with Risk to test first: that names one unknown or weak point.

You should now see exactly two selection lines beneath the screening table.

Remove any extra line from the selection note if one is present.
Save the position note.

Before you check, do you expect your factual reason to connect directly to one buy-box rule?

Read the two selection lines in the position note.

You should see one lead tied to your buy box with one game-master fact. The next line should name one unknown or weak point.

Your filter has done its job. Next, you will test the selected lead without losing track of the first risk you identified.

Build and Test the Deal Desk

Your selected lead fits enough of your buy box to deserve analysis. A property can still require more cash than your savings can cover, so your deal desk must expose that burden before you consider extra funding.

In this step, Claude creates an offline workbook for the analysis. You will challenge every calculation in LibreOffice Calc before entering the selected deal.

In this step, get ready to:

Generate an offline .xlsx deal desk with sourced inputs and print-ready reports.
Hand-check every calculation against the supplied worked example.
Enter the selected deal with a 15 percent down payment and no extra funding.

Build the offline deal desk

The builder chat creates the tool without seeing the sealed game master card. This separation keeps deal facts out of the workbook-building instructions.

Switch back to the Rental Deal - Builder chat from earlier.
Request the offline workbook by sending this exact brief:

Build me a deal desk for one rental. It works offline, saves the deal, shows every step, and flags empty inputs.

Inputs, each with a source: price; appraised value; down payment percent; rate; months; closing costs; seller credit; tax, insurance and rent; vacancy, repairs and management as percents of rent; savings; 401(k) vested balance, loan, rate and months; other rentals' loans; the lender's reserve credit for retirement money (a percent); year-two rent, insurance and tax; sale value; selling-cost percent.

Show: down payment; loan; monthly payment; PITI; the house's cash flow (rent less vacancy, repairs and management, less PITI); the 401(k) limit (the lesser of 50,000 or half the vested balance) and its payment; my cash flow after that payment; cash to close; cash short or left after savings and the 401(k) loan; reserves needed (6 months of PITI plus 2 percent of other rentals' loans) against reserves held (savings left plus the credited share of the 401(k) after the loan); year two: the house's cash flow, mine, cash-on-cash (a year of the house's cash flow over cash to close), loan balance after 12 payments, and sale net (value less selling costs less that balance).

Also: a funding table (option, amount, monthly cost, risk); a variance log (event, planned, actual, decision); and exports I can print or save, each with a trace table of every number and its source: the decision memo, the offer terms summary (price, loans and plan-loan timing, closing date) and the close-out report (planned against actual, the exit, the score, prediction against outcome). Leave blank for me: recommendation, risks, what would change the decision, the lender's answer and the lesson.

What does this brief control?

Each input sits beside its source, while empty fields receive a visible flag.
The calculation area covers the down payment, loan, principal and interest, PITI, cash flow, reserves, year-two results, loan balance, and sale net.
The workbook includes a funding table and a variance log for later decisions.
The judgment fields stay blank because those decisions belong to you.

Workbook creation can take longer than a normal chat reply. A quiet pause can mean the file is still being prepared.

Wait for Claude to attach the downloadable .xlsx workbook.
Download the attached workbook.
Confirm the downloaded .xlsx file appears in Windows File Explorer.
Move the downloaded workbook into San Antonio Rental Carry Test in Windows File Explorer.
Rename the workbook to San Antonio Rental Deal Desk.xlsx.
Confirm San Antonio Rental Deal Desk.xlsx appears inside San Antonio Rental Carry Test.
Double-click San Antonio Rental Deal Desk.xlsx to open it in LibreOffice Calc.
Save San Antonio Rental Deal Desk.xlsx immediately.

You should see the workbook open under the exact file name. It now has a permanent local home for every later update.

Workbook Acceptance Map

The input area covers price, appraisal, down payment, loan terms, closing costs, seller credit, operations, savings, retirement funding, reserves, year-two values, and exit values.
The output area covers cash to close, cash short or left, property cash flow, personal cash flow, reserve tests, cash-on-cash, the balance after 12 payments, and sale net.
The Decision Memo contains the deal, date, recommendation, original prediction, operating case, funding comparison, chosen funding, risks, reversal condition, lender answer, and trace table.
The Offer Terms Summary contains the property, date, offer price, primary loan, extra cash source, plan-loan request date, closing date, negotiated terms, and trace table.
The Close-Out Report contains the deal period, original prediction, planned-versus-actual results, variance summary, exit market, exit decision, prediction result, score, lesson, and trace table.

Compare the open workbook against the acceptance map.
Request a revised workbook from the builder if any required field, calculation, table, report, or trace table is missing.
Confirm the revised workbook still leaves your recommendation, risks, reversal condition, lender answer, and lesson blank.

No downloadable workbook?

Check Claude's settings for Code execution and file creation under Capabilities.
Look for Create and edit files if your account shows the updated setting name.
Tell the builder to return a working spreadsheet file if the response exposes code or gives you instructions to write code.

If the workbook attachment still does not appear, help me troubleshoot Claude file creation.

Hand-check every calculation

A polished workbook can still contain a wrong formula. The worked example gives every formula a known answer before simulation facts affect your judgment.

Worked Example Inputs

Set price to 150,000.
Set the down payment to 15 percent.
Set the rate to 8 percent.
Set the term to 360 months.
Set closing costs to 4,500.
Set seller credit to 0.
Set annual tax to 3,000.
Set annual insurance to 1,500.
Set monthly rent to 1,700.
Set vacancy to 8 percent.
Set repairs to 5 percent.
Set management to 8 percent.
Set the vested 401(k) balance to 40,000.
Set the 401(k) loan to 10,000.
Set the 401(k) loan rate to 9 percent.
Set the 401(k) loan term to 60 months.
Set other rentals' loans to 100,000.
Set savings to 20,000.
Set reserve credit to 60 percent.
Set year-two rent to 1,750.
Set year-two insurance to 1,560.
Set year-two tax to 3,000.
Set sale value to 155,000.
Set selling costs to 8 percent.

Before you enter the example, do you think every output will match on the first attempt?

Enter each worked-example value into its matching input field.
Label each worked-example source as Worked example.
Compare the recalculated outputs with every check below.

Expected Worked Example Results

Down payment should be 22,500.
Loan should be 127,500.
Monthly payment should be 935.55.
PITI should be 1,310.55.
Property cash flow should be 32.45.
The 401(k) loan limit should be 20,000.
The 401(k) loan payment should be 207.58.
Your cash flow should be -175.13.
Cash to close should be 27,000.
Cash left should be 3,000.
Reserves needed should be 9,863.30.
Reserves held should be 21,000.
Year-two property cash flow should be 66.95.
Year-two personal cash flow should be -140.63.
Cash-on-cash should be 2.98 percent.
The loan balance after 12 payments should be 126,434.91.
Sale net should be 16,165.09.

✔️ Every result matches

That is the hardest trust check complete. Your workbook now reproduces the supplied example across acquisition, operations, reserves, funding, and exit.

Clear only the worked-example input cells.
Clear only the worked-example source cells.
Save San Antonio Rental Deal Desk.xlsx.

You should see the empty-input flags return. The workbook is ready for the selected deal.

ⓧ One or more results differ

A mismatch means the workbook still needs correction. Keep the worked example in place until every output passes.

Switch back to Rental Deal - Builder.
Name the output line that differs.
Provide the workbook's current value.
Provide the expected value from the check above.
State the calculation rule from the original brief.
Request a revised downloadable workbook.
Open the revised workbook in LibreOffice Calc.
Repeat the full worked-example check.

Mismatch still present?

Check that annual tax and insurance are converted to monthly amounts inside PITI.
Check that percentage inputs use the workbook's expected percentage format.
Check that the 12-payment balance uses the same loan amount, rate, and term as the acquisition case.

If the revised workbook still misses a result, help me isolate the incorrect workbook formula.

Enter the selected deal

The verified workbook can now receive simulation facts. Source tracing keeps each number tied to the role that supplied it while unknown protects you from silently inventing missing inputs.

Return to the Rental Deal - Game Master chat from earlier.
Keep the reasoning or extended-thinking display collapsed.
Ask the agent or seller for the selected deal's price, seller terms, tax, insurance, rent evidence, and known property facts.
Ask the lender for the appraisal, down payment, rate, term, closing costs, and reserve requirements.
Ask the plan administrator for the vested balance, loan limit, rate, term, and funding timing.
Ask the inspector for the selected property's condition findings.
Ask the appropriate simulation role for any remaining input required by the deal desk.

Keep the source trail clean

Phrase each request as a buyer question about a specific input. Record only the answer supplied by that simulation role.

Use unknown whenever the role says I don't know. This keeps missing evidence visible.

Enter every known selected-deal fact into its matching workbook input.
Enter the supplying role beside each known fact.
Enter unknown for every unavailable input.
Confirm every input has a source or an unknown status.

Before the workbook recalculates the base case, do you think savings alone can cover both the initial cash need and the reserve requirement?

Set the down payment input to 15 percent.
Leave every extra-funding input empty.

You should see the cash gap in the cash short or left output. You should also see separate values for reserves needed and reserves held.

Save San Antonio Rental Deal Desk.xlsx in San Antonio Rental Carry Test.
Confirm the saved workbook remains open in LibreOffice Calc.

Your deal desk is tested, sourced, and showing the unfunded cash position. Next, you can compare funding paths without hiding their effects on monthly cash flow or reserves.

Compare Funding and Negotiate

Your unfunded base case exposed the cash gap. It also showed how much money the deal needs after closing.

A funding path changes your cash flow. It can also change your reserves. A 401(k) loan adds a separate payment plus job-loss risk.

This step turns those tradeoffs into a funding decision. You will document that decision before starting the negotiation.

In this step, get ready to:

Compare at least three funding paths across cash availability, monthly cost, reserves, job-loss risk, and control risk.
Complete the Decision Memo before saving it as a PDF.
Negotiate the fictional offer with a completed Offer Terms Summary.

Compare at least three funding paths

A funding comparison puts every option beside the same decision criteria. This prevents one attractive number from hiding a larger risk.

Switch back to the Rental Deal - Game Master chat in Claude.
Ask the relevant simulation roles for the terms of at least three available funding paths.
Record each supplied term beside its role in the workbook's trace table.

You should now have sourced terms for at least three available paths. Any missing term remains visible as unknown.

What belongs in the comparison?

Amount shows how much the funding source contributes.
Cash available shows whether the path covers the required cash to close.
Monthly cost shows the payment added to your personal budget.
Post-closing reserves show the money that remains available for the property.
Job-loss risk shows what happens if payroll or employment changes.
Control or partner risk shows which decisions or returns another person can influence.
Decision records whether you accept or reject the path.

Switch back to the open deal desk in LibreOffice Calc.
Enter one row in the funding table for each sourced path.
Complete every comparison column for each row.
Enter unknown wherever a simulation role did not supply a required term.
Review the recalculated cash available for each path.
Review the recalculated monthly cost for each path.
Review the recalculated post-closing reserves for each path.
Review the written job-loss risk for each path.

Your funding table should now expose the tradeoff behind each option. A path that covers closing can still weaken your monthly position or decision control.

Review the control or partner risk for each path.
Select the path whose combined cash result, reserve position, and job-loss risk you accept.
Write one sentence explaining why that combined result is acceptable or unacceptable.
Enter the chosen funding path into the deal desk's input fields.
Add the source for every changed input to the trace table.
Save San Antonio Rental Deal Desk.xlsx in the San Antonio Rental Carry Test folder.

You have turned the visible cash gap into a sourced funding decision. The updated underwriting now shows its effect on the property plus your personal position.

Decide before you offer

A decision memo freezes your reasoning before the seller responds. Its judgment fields show why you would proceed plus what would make you stop.

Select the Decision Memo sheet in the open deal desk.
Complete the Recommendation field with your own judgment.
Complete the Reasons field with the facts supporting that judgment.
Enter your chosen funding path in the relevant memo field.
Complete the Main risks field.
Complete the What would change the decision field.
Compare your original prediction with the current case in the matching memo field.
Complete every available trace-table row with its value plus source.

Your memo should now contain a recommendation that another reader can trace back to the workbook. The lender-answer field remains ready for the question triggered by the game master.

Save San Antonio Rental Deal Desk.xlsx.

Exporting one report sheet is a little fiddly because the workbook contains several printable layouts. Keep the Decision Memo sheet selected so the export stays focused.

Click File in the LibreOffice Calc menu bar.
Select Export As.
Select Export as PDF.
Set the export range to the selected sheet.
Select Export to continue.

Why export only one sheet?

The workbook contains three report layouts plus calculation sheets. Limiting the export to the selected sheet gives the reader one complete decision document.

Choose the San Antonio Rental Carry Test folder in the file picker.
Enter Decision Memo.pdf as the file name.
Select Export to save the PDF.
Open Decision Memo.pdf from the project folder.

You should see only the Decision Memo. It should include your recommendation, reasons, chosen funding, risks, reversal condition, prediction comparison, and trace table.

Did the PDF include extra sheets?

Return to the Decision Memo sheet before exporting again. Set the export range to the selected sheet so the calculation tabs stay out of the PDF.

If the memo is clipped, check its print layout before repeating the export. Help me fix my Decision Memo PDF export

Return to the Decision Memo sheet in LibreOffice Calc.
Select the completed memo content.
Press Ctrl+C to copy the memo text.
Switch back to the Rental Deal - Game Master chat.
Press Ctrl+V to paste the memo.
Send the completed memo to the game master.

Omar should respond with the job-loss and unpaid-loan question. This is the stress test for the personal side of your funding choice.

Answer Omar's question in your own words.
Keep the funding response as your personal judgment.
Return to the open deal desk in LibreOffice Calc.
Enter your response in the Lender's answer field.
Update the related trace-table entry.
Save San Antonio Rental Deal Desk.xlsx.
Repeat the selected-sheet PDF export using Decision Memo.pdf as the file name.
Confirm replacement of the earlier PDF if LibreOffice asks.

Reopen Decision Memo.pdf. You should now see your personal lender answer inside the final memo.

Make and negotiate the offer

Your offer now has a documented financial case behind it. You still choose the amount, the reason, and the timing of any plan-loan request.

Switch back to the Rental Deal - Game Master chat.
Send one offer message that states your offer amount, factual reason, and plan-loan request day.
Read the seller's simulated response.
Choose your own response to that outcome.
Repeat your response until the seller accepts, counters, or you walk away.

The chat should now state the negotiated outcome. That result becomes the source for the final offer record.

Return to the open deal desk in LibreOffice Calc.
Select the Offer Terms Summary sheet.
Complete every field using the negotiated outcome.
Enter the property plus date.
Enter the offer price.
Enter the primary loan.
Enter the cash source or additional loan.
Enter the plan-loan request date.

The summary now connects the purchase terms to the funding timeline. Finish the remaining terms before exporting it.

Enter the closing date.
Enter the other negotiated business terms.
Add every supplied number plus its source to the trace table.
Save San Antonio Rental Deal Desk.xlsx.
Repeat the selected-sheet PDF export for the Offer Terms Summary sheet.
Choose the San Antonio Rental Carry Test folder in the file picker.
Enter Offer Terms Summary.pdf as the file name.
Select Export to save the PDF.

Before the final check, which artifact do you expect to reveal a missing judgment or source first?

Return to the San Antonio Rental Carry Test folder in Windows File Explorer.
Open Decision Memo.pdf.
Open Offer Terms Summary.pdf.
Return to the funding table in San Antonio Rental Deal Desk.xlsx.

The memo should contain your judgment plus lender answer. The offer summary should contain the negotiated terms plus plan-loan timing.

The funding table should show at least three compared paths with cash availability, monthly cost, post-closing reserves, job-loss risk, control risk, and your decision. That is the decision gate complete.

Your deal now has a sourced funding decision plus negotiated offer terms. Next, you will close the fictional purchase and test those assumptions against the first year.

Close and Run the First Year

Your funding choice is documented in Decision Memo.pdf. Your negotiated terms are preserved in Offer Terms Summary.pdf.

Funding timing can alter the cost of closing. Repairs can alter the rental's cash result.

Rent can move away from the original plan. Employment news can test your ability to carry the 401(k) payment.

In this step, you will close the fictional purchase. You will then use a variance log to compare each first-year event with your plan.

In this step, get ready to:

Close the fictional purchase after resolving any funding-timing issue.
Make your own decision at each first-year operating stop.
Complete a sourced operating record with four variance rows.

Close the fictional deal

Closing turns your negotiated assumptions into a transaction record. The game master in Claude may present a timing problem that requires your decision.

Switch back to the Rental Deal - Game Master chat from earlier.
Tell the game master that you are ready to close the fictional deal.
Review any funding-timing choices that the game master presents.
Choose your response without asking the game master to decide.
State your chosen response in the chat.
Wait for the game master to confirm the fictional closing.

That is a major checkpoint: your fictional purchase is closed.

Return to San Antonio Rental Deal Desk.xlsx in LibreOffice Calc.
Enter every supplied change to the closing cost, funding source, or closing date in the deal desk.
Add each closing change with its game-master source to the trace table.

You should see the final closing outcome beside its source. Any unchanged field should still match the negotiated offer.

Save San Antonio Rental Deal Desk.xlsx in the San Antonio Rental Carry Test folder.

Missing a closing detail?

Use only facts supplied by the game master. Ask the current role to clarify the closing outcome if a changed cost, source, or date is unclear.

If the closing record still feels incomplete, help me identify which closing fields need a sourced value.

Run the first year one stop at a time

A variance log places the original plan beside what actually happened. Each row preserves your response before the simulation moves forward.

What belongs in each variance row?

The Event field identifies the operating stop.
The Planned field captures the assumption already stored in your deal desk.
The Actual field captures the fact supplied by the game master.
The Decision field records the response you chose.
The Cash effect field records the financial impact.
The Source field identifies the game-master role that supplied the fact.

Return to the Rental Deal - Game Master chat.
Ask the game master to run the first year one stop at a time.
Pause when the game master presents the first operating stop.
Make your own response to the facts presented at that stop.
Return to the variance log in San Antonio Rental Deal Desk.xlsx.
Complete one row across all six variance-log fields.

Your first row should now connect one planned value to one actual fact. It should also preserve your decision and its cash effect.

Did the simulation move ahead too soon?

Tell the game master to return to the current stop if it advances before you decide. Record the row before asking it to continue.

If a variance row is missing a usable fact, help me identify what to clarify before continuing.

Switch back to the Rental Deal - Game Master chat.
Tell the game master to continue to the next operating stop.
Repeat the pause, decide, and record cycle for each remaining stop.
Stop the simulation after you have responded to the year-end stop.
Count the completed rows in the variance log.

You should see exactly four completed rows. Each row should show the plan, actual fact, decision, cash effect, and source for its event.

Save the operating record

Year-two inputs carry the operating result into the next review. Only values supplied by the game master belong in those fields.

Update the year-two rent input only when the game master supplies a value.
Record the supplied rent source beside that input.

Any supplied year-two rent should now appear beside its source. An unsupported rent input should remain unchanged.

Update the year-two insurance input only when the game master supplies a value.
Record the supplied insurance source beside that input.

Any supplied year-two insurance should now appear beside its source. An unsupported insurance input should remain unchanged.

Update the year-two tax input only when the game master supplies a value.
Record the supplied tax source beside that input.

Any supplied year-two tax should now appear beside its source. An unsupported tax input should remain unchanged.

Save San Antonio Rental Deal Desk.xlsx in the San Antonio Rental Carry Test folder.

Before you inspect the completed operating record, do you expect every first-year stop to have all six fields?

Return to the variance log in the saved workbook.
Count the completed event rows.
Inspect every row for its planned value, actual fact, learner decision, cash effect, and source.
Review each changed year-two input against its recorded source.

You should see four completed variance rows. Every supplied year-two change should have a source beside it.

See fewer than four rows?

Return to the game master chat from earlier. Continue from the last operating stop that has a complete row.

If a row still lacks one of the six fields, help me audit my four-row variance log.

Your first-year operating record is complete. Next, you will judge the result against your original prediction.

Secret mission

Exit, Report and Score the Deal

Make your hold-or-sell decision before seeing the answer key. Test your assumptions against live property data. Then score the record you already made.

Clean Up Your Resources

This project requires no paid resources, so keeping the completed simulation creates no project fee. Your cleanup options are to keep the folder and Claude chats, pause for later review, or delete them.

Stay on the Free Path

Claude Free has usage limits. Reaching a limit does not require payment for this project.

Save your current files.
Resume after the limit resets.
Do not pay inside this project.

Resources you used:

Your San Antonio Rental Carry Test folder in Windows File Explorer contains your complete simulation record.
The Rental Deal - Game Master chat contains the sealed simulation card and completed game record.
The Rental Deal - Builder chat contains the workbook creation history.

Keep everything running

No action is needed. Choose this option if you want to review the simulation or reuse its workbook later.

Keep the San Antonio Rental Carry Test folder in its current location.
Keep Rental Deal - Game Master unchanged with its reasoning display collapsed.
Keep Rental Deal - Builder unchanged for reference.
Retain the workbook and three PDF exports as your completed simulation record.

Pause - I'll come back to this later

This option closes the local workbook while keeping every file and chat ready for later review.

Save San Antonio Rental Deal Desk.xlsx if it is still open in LibreOffice Calc.
Close LibreOffice Calc.
Leave both Claude chats unchanged.
Confirm the San Antonio Rental Carry Test folder still contains the completed workbook, three PDF files, position note, reality check, 60-word lesson, and ledger line.

Delete - I don't want to use this again

This option removes the complete local record and both chats. The choice is final, so use it only when you no longer need the simulation.

Delete Rental Deal - Game Master from Claude's conversation history with the chat's deletion control.
Delete Rental Deal - Builder from Claude's conversation history with the chat's deletion control.
Confirm both chat titles are absent from your conversation history.

Switch back to Windows File Explorer from earlier.
Select the San Antonio Rental Carry Test folder.
Press Shift+Delete to permanently remove the selected folder.
Approve the deletion if Windows asks for confirmation.
Confirm the San Antonio Rental Carry Test folder no longer appears in File Explorer.

You should no longer see either Claude chat or the local simulation folder.

Nice Work!

You made it! Your offline San Antonio rental deal desk now preserves a sourced acquisition record from screening through first-year operations. You made every judgment yourself.

You've learned how to:

Screened fictional leads against a buy box. Built a hand-checked deal desk that exposed the savings gap before extra funding entered the model. Traced each usable input to its source.
Compared at least three funding paths. Recorded your judgment in Decision Memo.pdf. Negotiated the fictional purchase. Captured the accepted business terms in Offer Terms Summary.pdf.
Closed the fictional rental. Ran its first year through four decision points. Recorded each planned-versus-actual result in a variance log. Used the operating record to test your original prediction.
Finished the optional Secret Mission for an extra test of your judgment.

Ready to quiz yourself?