Forgive me going into details but just wanting to give you a clearer picture of our rental property townhome, which is zoned 2 family there are 4 habitable 800 square foot floors for a total of 3200 ft habitable. 

So renovate this year, cash out refinance end of next year is totally possible!

Cruz is a total dork, but a 3-4 week vacancy between Thanksgiving and Christmas is very normal.

@Jason Seay  We have in our lease that all parties are responsible for the total rent. 

Also where there are changes in regulations that may require lenders to change servicing agreements which affect who services your loan.I know that's a pain but as things change -- unfortunately, investors will be impacted by changes in the lending industry - and that includes LOAN SERVICING CHANGES.It’s a total cluster between the banks, their loan servicers and their loan servicer’s sub-servicers.

Hi Renee, I totally get where you are coming from.

We see a lot of success in the suburbs: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.

That is totally above board and good to go -  Best of luck!

The information contained in this post is not to be relied upon.

The information contained in this post is not to be relied upon.