People house hacking have far different expectations than someone buying properties with cash. 

The 1st job Id expect 2 guys to finish it in one day, so 16-18 man hours...so I wouldnt say their time billing is drastically high, but a a moderate amount.

I focused on high-impact renovations that aligned with the expectations of Hamptons buyers.

But what is really important is that you understand the terms of the loan, including the length of time and when you can expect to get the money back, how it is secured, and the process of getting it back if things don't go as planned with the investment.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------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?

Have you had any issues with Plastiq taking longer than expected to send out a check?

This was months ago and family member has lawyered up to see what’s going on we did continue working until we ran out of credit card figuring once the money is released we could just pay off the cards but the money is still on hold Back in October we decided that money does not exist and started applying for hard money loan/speaking to lenders and have gotten nowhere.

Figure out how to actually analyze property and practice.

You should also notify the tenant when they are either in violation of a reasonable expectation of the properties use or condition whether specifically outlined in the lease or not.

However, once you file your taxes, the IRS will figure it out and you're screwed!