Saginaw 48602 Possible Investment

[Mike Kratz]

I have an "opportunity" to purchase 11 properties that have 33 total doors.  They are in Saginaw (48602).  I am not very familiar with the market or Section 8...

I am looking for overall advice or guidance for pluses and possible pitfalls.  If there are any investors familiar with either...please reply.

I typically buy and hold to build a rental portfolio.  Most have been buy and rehab to refinance with positive cashflow.

After looking at the Fair Rental values these would appear to cashflow quite a bit...total approx $7,500/month after approx 200K purchase and approx 150K rehab. What am I missing? Is there a high level of vacancy? I typically assume 10% for CapEx and 10% Vacancy...

Is it "better" to try to find a "portfolio" loan that would cover all or individual mortgages?  I would prefer to minimize my capital tied into the homes if possible?

They are currently rented on a month to month.  Is that typical?  I am used to 12-24 month leases.

I would also prefer to hire a property manager to manage and my numbers include a typical fee I am used to paying.

I am somewhat green to this type of investment property so any advice?