How Do CRE Acquisitions Teams Actually Do Deal Screening?

I'm curious what the real-world deal-screening process looks like at different CRE acquisitions shops, and where you draw the line between an initial deal screen and full underwriting/due diligence

• How do you find the initial deals? Like setting up a mailbox notification on LoopNet?
• What are the typical steps you go through when a new acquisition opportunity comes in? is the process sth like, deal screen → preliminary underwriting → LOI → due diligence → full underwriting / investment committee? Or does it work differently?
• How long do you normally spend on the initial deal screen before deciding whether to pass or proceed?
• How detailed should a deal screen be? At the screening stage, what info do you consider must-have, and what info is usually unnecessary at that point? Like purchase price, property type, size, units, year built, current occupancy, current rents, asking rents, rent roll, T12 operating statement, property taxes and insurance, cap rate, NOI, recent capex, renovation history, comparable rents, sales, market, and submarket. fundamanetals, zoniing, developmemng potential, construction assumptions, financing assumptions, partnership, jv assumption, etc ?? what kind of them should include in the deal screen, what are unnecessary?
• How much should you assume at the deal screening stage? How much of the future business plan do you actually underwrite during the initial screen? Like, if you are looking at a multifamily property, would you already make assumptions about renovating units, increasing rents, repositioning the property, redevelopment, adding units, rezoning, changing the property’s use? Holding vs. selling after stabilization.
• Or is the initial screen mainly based on the existing asset and current operations, with the business plan becoming more detailed only if the deal survives the first screen?
• Do you build a pro forma during the deal screen, with revenue growth, expense growth, renovation assumptions, financing, exit assumptions, IRR, equity multiple? Or do you use a much simpler screening model, like purchase price → current NOI → stabilized NOI → cap rate → rough returns?
• At what point do you move from a quick screening model to a full underwriting model?
• Is there a standard deal-screen template? Do most acquisitions teams have a fixed deal-screen template/model, or is it highly case-by-case?
• My big question prob What is the practical difference between a deal screen and full underwriting? Where do you personally draw the line?

I'm asking because in my current work, I've noticed that I sometimes make the deal-screening process too detailed.

I start with what I think should be a quick screen, but by the time I'm finished, I've analyzed so much that it feels like I'm already doing full due diligence and full underwriting on the asset.

At the same time, if I make the screen too high-level, I don't feel like I have enough information to confidently decide whether to pass or proceed.

I think the process might be different across property types, markets, and big shops vs. small shops, so it would be better if you can make a note to write this along with your comments

Much appreciated!!!