How many GPs are typically on a deal?

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

In my experience, a successful BRRRR typically comes down to two main things: finding a good deal and managing an efficient renovation.

A monthly fee (typically around $5-20/mo) is added on to the payment.

Head over to bank rate or and take a look at the mortgage calculators, plug in the numbers and get an idea of what the property needs to generate to satisfy the intended debt.You still have to underwrite the deal for the non-finance expenses as well(typically 40-50% of the gross rents). 

Experienced investors typically value properties like yours by analyzing cap rates, cash-on-cash returns, and income growth potential.

Typically lenders will use the total rent being collect or the market rent given on your appraisal, which ever is lower.

Typical renovations include:Cosmetic Updates: Painting, flooring, kitchen and bathroom upgrades, and landscaping.Structural Repairs: Fixing any underlying issues such as foundation repairs, plumbing, or electrical updates.Efficiency Improvements: Adding energy-efficient windows, new HVAC systems, and better insulation to increase the property's overall value.The goal of the rehab phase is to increase the property’s market value while making it an attractive place for tenants.

@Philip Beckwith typically in Michigan, you can only do a tax appeal in February.The instructions will be on the back of your winter tax bill.You will need to have great comparables to challenge the City Assessor's valuation.

The properties that I like the best are typically in the B/B- neighborhoods.