The caretaker would be required to assume paying taxes and insurance plus upkeep.Both units need a fair amount of work prior to being rentable now that it’s been vacant so long.

should allow you to save for your second deal fairly quickly.Full disclosure: I run a turnkey operation based out of Birmingham, AL—happy to point you in the right direction and answer any questions that come up!

@Jennifer Hung While I do not know their work personally, I think it's fair to assume that one shouldn't do business with someone who was/is being investigated by an Attorney General and the FBI.

Ugh, Madhuri, as someone who is heavily invested in Detroit and helps a LOT of out-of-state investors get started there, this makes me sick.I talk to about a dozen folks per week looking to invest in Detroit and I've heard my fair share of Flip Systems folks.

In my opinion, you need a standard (eg. no felonies) that is written and followed consistently to avoid fair housing issues. 

So, the real estate broker/agent would have to inform the seller of the fair market value of their home, making it much more difficult to earn a profit larger than what a real estate commission would be.  

I’m saying I’m nervous that the appraisal won’t go all the way too current fair market value.

To be fair to them it had been a rental for 10 years and it took 3 inches of rain in 2 hours to fully expose the issue.

Eichholtz’s initial research showed that real housing prices (corrected for consumer price inflation) gradually changed over time, but were fairly equal in 1973 compared to prices in 1628."

@Yixin Huang we use a property management software which keeps the communication centralized and updates them on status.