In the city of Detroit income tax is very cheap and a cash cow for investors who find a good property.

This is a people business ultimately, and I can guarantee you that a paying tenant won't be thinking about the "savings" over the years on cheap rent.

I'd really appreciate your inputs.Some relevant info that may help- I'm expecting a size able bonus next yr from my stock vests (~$500k)- the house needs flooring to be replace since the previous owners put cheap laminate stickers that are coming off and counter tops and cabinet repaints. - homes are not renting quickly in my areas and even if they rent its below $2k. - there is a airbnb in my street which seem to have good occupancy Thanks in advance for all your suggestions.

That knowledge gave me the confidence to take on short-term rentals as part of my investment strategy moving forward.The First DealIn May 2024, while my girlfriend and I were traveling, she found a multi-family property in a city near us.

It’s a small single family three bedroom one bathroom unit, I bought it for cheap and plan on renting on the higher scale by making minor improvements such as flooring, fresh paints and of course new kitchen and bathroom

It also makes cleaning easier, as you don't get that layer of nastiness where the sink meets the counter.But, if this is a low end, low rent type area, probably best to do it as cheap as possible.  

We have traveled there many times and love the country.

All my HVAC guys say to use the cheap filters, not the high-end, high MERV filters.

I mostly see those when I am buying cheap houses.

I would like to be able to occupy the property for 1 week every 4-6 months, which they agree to (with enough notice on dates) as they have to travel for work at times and could easily vacate during these periods.Has anyone written this sort of agreement into a lease?