Especially if you are hiring property management.

At the time QB was not the best for property management.

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.

We got out of condo conversions couldn't really sell any of them and transitioned to ground up development of single family homes and three story walkup triplexes on a build to rent model which is much easier for us to manage and our exit isn't a sale it's just a refinance. 

How much are you having to pay the management companies?

Your property management company can help once you own the property but up until then you need someone good on your side!!! 

Ive been using the same for many years now and its my foundation for operations, follow-up, workflow management and communications. 

Even though I wasn't a good asset manager, I made money on my properties. 

I was one of the few lucky ones with Safeguard as I was able to take over the management of the loan and modify it and then got a payoff.

I liked Ron’s 20+ year asset/construction management and investment background.