I think a better option is to get a job in property management.

We got out of condo conversions couldn't really sell any of them and transitioned to ground up development of single family homes and three story walkup triplexes on a build to rent model which is much easier for us to manage and our exit isn't a sale it's just a refinance. 

Heck it's so good I could manage a loss for a few months but I really think the cash on cash return will be 10% + first year and 20%+ 2nd year. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Until then, I'll be trying to absorb everything I can to fine tune my approach and prepare for managing REI business post-acquisition.

Maintenance is one of the biggest challenges, maybe even #1, in the Property Management industry.Seems maintenance is, Never Fast Enough for Tenants, or Cheap Enough for Owners!

Hey Matt,I’ve been investing and managing properties for over 20 years, and choosing the right market is key—especially as a new investor.

I do construction management for investors and I usually find them good contractors at good prices. 

Do you assist with rental management in the 53206 zip code maybe around 16th /North?

So I am assuming you were the lender on these properties and they did not manage them well and they went into foreclosure.