@Kris Lou Many factors go into PMC pricing:1) Locality (city/state)2) Neighborhood & Property Class (time to manage Class A < Class B < Class C < Class D)3) Property condition (slumlord properties hard to manage)4) Number of units (some economies of scale, but not as much as owners think)5) Owner expectations (some owners really want a personal assistant!)

or it’s better keep as is with small updates doneI'd start by speaking with an architect or local permit expediter, then someone at the City. 

Private equity firms seem to favor larger operations with scalable systems, while smaller mom-and-pop firms are often acquired by local players or regional operators looking to expand their footprint.If you’re looking for actionable intel, reaching out to brokers specializing in the sale of PM firms could provide useful leads.

The wait-list becomes a longer wait-list until states and localities allow them.If the trend for 2025 will be more ADUs as stated in On The Market podcast.

@Muriel Hair here's some articles about Detroit increasing over 20% in 2024...https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...

As a General Contractor myself here in east central Texas, I can tell you that connecting with local GCs via Facebook groups can be incredibly helpful.

Additionally, I'm banking on a future opportunity to refinance.After less than a year, here are a few tips from what I’ve learned:*Hire a local STR expert real estate agent to guide your investment location.

Start by networking with local investors, identifying target neighborhoods, running numbers on potential deals, and lining up financing so you're ready to act when the right opportunity comes up!

@Kayla Elliott  Hi Kayla - this was a commercial mortgage loan with a local bank, that held it "in house" after it was issued. 

Hi Michael, we're a national lender, so if you need financing in either locale, feel free to reach out!