Maybe you want to purchase your first property, scale your portfolio or become financially free.Many of us make New Year’s resolutions, but big changes are needed to make them a reality.

We do a lot of investing in Detroit but we do not purchase rentals below 75k there  they are so more likely to be  in war zones and get far less rent so the numbers dont work especially after you have had a water heater and furnace walk out the door a few times.

Unsuccessful Property Search: Hours spent on unsuccessful property searches, where no purchase is made, do not qualify.On-Call Periods: Instances where you are on-call but do not actively perform work do not count towards material participation.Meeting Requirements:Maintain Detailed Records: Keep accurate time logs and records documenting your involvement in material participation activities, supported by evidence such as emails and calendar appointments.Seek Professional Guidance: Collaborate with a qualified tax professional to ensure compliance with IRS regulations and to optimize your material participation strategy.I hope this high-level overview gives you insight into what activities matter and ones that do not.

We highly recommend though, having a local expert that you can run addresses by, to confirm the target property in on a good block before signing a purchase contract.

I've purchased turnkey properties, as well as BRRRR style transactions in multiple Midwest markets.

This leaves me with single-family turnkey or BrRR opportunities, which I would most likely convert from primary residence to rental property six months after purchase. 

I plan to purchase a 2-unit+ property as a first-time owner to get all the advantages Maryland offers, and scale from there. 

If I was an out of state buyer I would purchase homes over in Coro Lakes or East of Third Street near Shelby Drive and Horn Lake Road. 

Being able to force appreciation through value-add work is a safety net during volatile times, especially if you end up needing to exit soon after purchasing and rehabbing.In the next few years...🛠️ you'll have time to complete a good amount of rehab work on your own💰 you'll likely be earning more at work than your starting salary now, and the monthly payment will be less of a burden🔵you'll likely make friends who may be willing to rent a room or two from you (house hack) to reduce your monthly expenses, if the monthly payment is difficult for you💸you'll likely be able to refinance at a lower rate.

You should KNOW the rental laws before you even look for a property to purchase with the intent of renting it out.