If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

More and more (1) and (2) no longer apply. 

Any additional screenings or criteria should be consistently applied to all applicants to avoid potential discrimination claims.Rental application fraud can be a significant threat to the financial and operational stability of running and operating a property.

@Ethan Slater here's some info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you have a 3-2-1 prepay, you'd lose $3,240 paying off your current DSCR (this would apply to a refinance OR a sale).

For FHA, I would ask your lender to confirm that they considered the 100 mile rule in calculating DTI.

.: Some of the advice above is not well thought out or not aware of the rules in CA.  

AB1482 applies to your existing house unless it is newer than 15 years old and may apply to your ADU, seeing it is a garage conversion, if the garage is over 15 year old.

It’s an area filled with short-term rental properties owned by a mix of out-of-town hosts and locals, but I know the advice here can apply to hosts and managers across the country!

They built out the infrastructure of the land in 2023 but never collected their applied for permits to actually build homes.