Free House! Kind of....

[Ben Parr]

I am under contract to "purchase" a house in Harper Woods, MI. 3 bedroom, 1.5 bath, no basement, no garage, but it does have a family room addition off the back. I'm getting the house on a 0 down $35k fully amortized land contract paying $325/mo for 12 years. The house is in pretty decent shape, it needs paint, the carpet needs to be cleaned and re-stretched,  some misc cleaning, and yard work. This is my first venture into Harper Woods, and I'm a bit concerned about the area and what kind of tenants I'll be able to find for the property, the area is a bit rougher than I'm used to operating in. That said houses seem to rent for $850-$1,000. All in all it should be a good one for rental number #38.