Bottom line is you have to have a solid grip on what properties rent for in your market - not only direct comps to what you have but also what's above and below you, because tenants can and will move based on affordability both ways ("downsizing" to save money or "upsizing" because an extra $50/100 gets them a much nicer place).Once you intimately know what your market is, and what's available, you can compare what you are charging to those figures and adjust accordingly.

As long as you can afford to make the repairs within the next year or so and you're not spending more than the house is worth, I would move forward with the purchase.

Can you afford the downpayment, brrr costs, keep money in the deal and have sufficient reserves for both properties(i.e 2 years of vacancy/lead times, 75-100% of capex, 3-6 months of random ********?

They have a mix of solid rental demand and still offer relatively affordable entry points.FWIW, those aren't areas I specifically invest in today but they will give you some anchors and are examples of strong neighborhoods.As for schools, it’s true they can be a challenge in a lot of Detroit.

He's the CEO of a company that builds healthcare facilities, and you rented him a "fully furnished luxury executive rental," but then you said he's broke and couldn't afford to give his kids Christmas presents?

I’m stating to look around some of the smaller markets outside of Boston, starting to dive deeper into market research to see if some of the more affordable areas are sustainable for rentals.  

If your local law allows it, see what everyone else is doing and go by the norm. 3 months rent is a substantial amount for some, but really helps ensure the financial quality of a tenant.Sometimes I have immigrants who apply who work their tails off and can't afford the 3 months up front.

Opportunities include affordable fixer-uppers, older neighborhoods, and targeting FHA buyers.Good luck!

Its like 100 bux a month, meaningless fee for them to handle it all Good luck  Hi Bob, who do you recommend in Akron that advertises your property on the Affordable Housing website? 

This "house hacking" approach lets you live in one unit while renting the others, helping cover your mortgage and build equity more affordably.