All Forum Posts by: Kim Cooper

Well, that works too!  Congrats!

Thank you so much Taylor, that is exactly what I wanted to know.  

@Jim S.  Yes, the Practical Guide is an amazing resource.  Thanks for recommending it.  

Hello, I am new to all of this and learning.  For those landlords in Michigan - is there a maximum application fee for prospective tenants?  I know some states do, but I am sifting through Michigan law and just not finding anything.  So either there is no law on this or there is common law (or I am just not finding it).  Either way, is there a maximum application fee?  Or are you just allowed to charge what your costs are that you incurred with background checks, credit checks, etc...? Also, what is kind of the average rate for application fees in Michigan?  Thanks in advance!

Thanks!

What is the legal period of time we are required to keep old tenant records & documents?  And does that vary by state? I'm in Michigan if it matters.  

Ok, so our price range is 40k to 75k when looking to buy a rental property, C class.  Assuming the location is decent, what do you think about manufactured houses?  I struggle with getting serious about them because our strategy is buy and hold for the long term.  And generally, these are not long term houses since I feel they are not made as tough.  Buy maybe they are??? However, there are a lot more manufactured houses options in our price range, then constructed house options.  Plus, I am not sure a manufactured house has "renter tough materials."  But maybe I am wrong.  What do you guys think.  Yay or nay? 

Hi Mark, I am looking in the same area.  I have little experience and no properties as of yet, just trying to learn the ropes.  What property management company did you try to work with?  Just curious so I can stay away from them as well. Thanks!

So what did you find out?  Legal or not legal? 

Wonderful!  Thanks to you both!  Yes, I did forget to type the RENT.