Conventional financing How did you add value to the deal?

Quote from @Spencer Douglas: I regret writing this bad review, BUT I HAVE TO.

My budget is slightly constrained for this first property so looking to save on purchase price and hopefully add value through renovations.

There are plenty of investment opportunities in the Detroit area as well which have the potential to offer immediate value, so I would weigh your options with care. 

You aren't necessarily building that much equity (cost of building exceeds the value) but it is a third option that is a hybrid.Another factor is location.

@Connor ChatlosDenver and Chicago's high property values make multifamily properties ideal for house hacking.

My approach balances both—ensuring that my investments generate income while also appreciating in value over time.

I know it's a balance of reality, values, and what makes one happy that guide our decisions.

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.

I may be biased, but I believe our group will have the most value to offer to you in the Lansing area. - Troy