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.

The property ended up being his book keeper's home that she had rented out and was needing to sell.

And do they care if I do rent by the room strategies?

Just reduce there rent by $5 and they will be happy to do it.

These were financial mistakes we made when we were younger, and unfortunately, they snowballed over time.We currently rent but own a rental property out of state that cash flows $600/month and has about $190,000 in equity.

We increased the rent slightly after the first 24 month lease and were able to recently increase the rent when the first tenant moved out.Lessons learned?

How much is the rehab going to cost, what's the ARV going to be, and how much will the property rent for?

If so, you will need to apply for a change of number of bedrooms on the standard CHA rent increase form.

The current average rent on the new buy is $925.

That way you are not competing with 30 other owners for rent.