Rentals are extremely difficult to make pencil right now but would only personally consider higher end projects because the costs are far easier to absorb than trying to build in lower value neighborhoods.

Would the IRS allow them to benefit from a 1031 Exchange if they would be "swapping" a million-dollar rental for one that is much lower in price?

These markets are attractive because of their diverse, resilient economies, lower priced homes, and stable home price appreciation.

There is no point refinancing the almost paid off property to buy another-just get a mortgage on the new property.hard money lenders are going to charge you a higher interest rate.

The lower the score, the higher the risk and the more we charge for a deposit.

Basically, there's no free lunch when it comes to taxes.Depreciating property lowers your tax basis.

She is upset because I am charging her for a technician call so now suddenly she's at me with "my lease is not with you" stuff.Just wanted to make sure I was correct in my statement to her.

The house is in Woodforest though so rentability might be lower as well increasing vacancy risk due to high rental costs. 

If not, the client gets charged to go get the right parts while we sit and wait for them :-)

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.