First House in Michigan as a Newbie investor for rent, what do..

[Haley London]

Hi 

re: is this a good place to begin?

I am a newbie at residential (I was in commercial, so I have some experience!) My agent knows of someone who is going to sell a house in Clarkston, Michigan.  I have not seen it yet but it is a 2 bedroom 1 1/2 bath just shy of 900 sq ft.  It sounds as though it would be move in ready, I drove by roof is fairly new.   I do not have a price yet but my agent mentioned something about $100,000.  It has a fenced in yard and is in a good school district.This would be a buy and hold and I want to build up to numerous houses.  I know it's a bit early since I haven't even been in the house!  There are other areas in Metro Detroit that the houses are alot cheaper, but I am not sure I want to invest there! :)  BTW

the basement is suppose to be partially finished with rooms for crafts/office etc.

(thanks in advance for answers by the way!)

[Haley London]

@Brad T.   I looked at one in Waterford, but it already had an offer!  I have thought of Madison Heights too but have not pursued anything there yet.  Congratulations on the 12 unit apartment, that is a big feat!  That has got to be exciting!

I owned a commercial warehouse and was a landlord (family biz type situation).  I could write a book on what I went through with it.  People that know me can't believe I want to get into residential after all of that, (I ask myself that too sometimes!) but I am not interested in the stock market really.  I know residential has its own set of issues, but it seems as though it would be easier for me.  It is different than commercial though, so I guess I am a residential newbie?!