Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

They hold title, and the mortgage and promissory note were attorney drafted and filed at our local county. 

Hey @Kevin Brown, we use QuickBooks Online exclusively for all of our REI Clients.

Due to the current interest rates, you probably can't live for free, but you can definitely learn how to house hack in that first year, reduced your personal housing costs, learn the rent by room/co-living strategy on-site, and then probably break-even after move out, but most importantly, it is possible to make that work in 2025 with today's rates.It just takes being open-minded and willing to be flexible for the 1st year.  

Just want to make sure the folks running this are not buying helicopters and jet planes with our investment.Comments welcome.   

Then they give you a random login/password for that site that you'll never remember and can't change.  

The property was appraised at $846k so we got a decent bit of cash back out at closing and are rapidly making our investment back.

We use Flourish Cash for our clients (no fees), and it yields 4.90% with 1.5M in FDIC coverage. 

In addition to taking 6-9 months to close, they are also subject to (i) annual audits, (ii) annual REAC property inspections, (iii) recurring annual MIP payments on top of your interest rate, (iv) large initial deposits to the replacement reserve, (v) commercial space limitations to 15-20% EGI / 25% NRA, and (vi) less forgiving underwriting with 7.00% minimum vacancy rates when determining our underwritten NOI.

Our concern is how can we be sure of the rate that is seen on the statement is the rate it was rented out too, when we don’t get to see the actual booking?