EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Hi BP Family "I’m working on a 15-unit multi-family deal with strong rental & value-add potential.

If you see at least a few zoned in the designations you mentioned above, that's potentially a good sign that you can get support from the local Alderman's office, and approval by the ZBA (zoning board of appeals), to rezone.

But it's rapid price growth and sales activity could indicate a more volatile market, with the potential for corrections if demand slows as affordability becomes an issue.

Then, if you like some of the comments from a user, you can connect with them directly and perhaps do a 1:1 discussion and potentially discuss what you want to do in the future.

If I could find 100 doors and put together as a group, what do you feel the exit potential is on this? 

Even at that price point, you may struggle to find a tenant, potentially leaving the property vacant for months.Here’s an example of a deal I’m currently working on:Purchase Price: $215,000Rehab Costs: ~$250,000ARV: ~$615,000Potential Rent: $3,600/monthUsing a $615,000 ARV and 75% LTV on the cash out refinance, with taxes and insurance, my monthly payment would be $4,267 using an 8.5% rate.

I am from some of the worst areas in Detroit and have since moved outside of the areas that would be considered “unsafe” but because I am from Detroit I am familiar with areas that are redeveloping and have great growth potential; lots of new construction, townhomes even, and lots of land.

I’ll see how the numbers work with very little off season occupancy and see what the mid term rental potential is during these months.

With a 4-unit building, that’s a very high customer concentration.