The resident pays the second month on time and then, and only then, do they get the concession.If the market is soft, and we are having trouble renting, before we consider concessions, we look at the product, the marketing, and lastly the price.

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.

This last bank limitation isn't a bad thing in my opinion because the long-term rental yields are low and what are you going to do if a tenant doesn't pay?

I need to update my deal profile but I moved here 2020 first buying a house hack and then slowly buying one rental a year until the last year and a half.

Any good insurance company I should check out who are good with property damage claims (lol, my last one was horrible experience)?

My last eviction taught me its easier to work with a problem tenant getting them out versus forcing them out with their feet dragging.

My last deal was an exact wrap at 3.5% granted I had to put $80k down to pull it off, but it’s a great way to keep the train on the tracks.  

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

Lastly, you won't be able to HELOC (or any cash-out equity) and 2-4 unit property in TX while it is still your primary residence.