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.

Achieving a great cashflowing property, learning the process while executing, and great satisfaction of helping a family.

I recommend continuing to learn pros and cons of each and determine which paths (I pluralize it as you should diversify even across real estate).

Your first deal is about learning, so focus on the fundamentals and think long-term, this is just the beginning of building wealth!

AS you get more experience you will learn how to screen better.  

If there's anyone else from my neck of the woods, I'm wide open to learning how to navigate this niche.

Short Term Rental Management with Luke Carl is a good podcast for learning about management.

When cycle gets tougher then those marginal agents sales dry up and they go back to that j-o-b especially since they did not save and spent all their money on trips, bigger houses, nicer cars,etc.Good LuckI hope you are one of the few that make it long term. 14 years in the business and still having record sales year after year.The best nugget of info I can give is constantly out learn your competition.

Join investors group and kee learning here best blogLuis Maqueira

I started with the Simple Start plan, but as I learn more about the software, I realize that to effectively classify income and expenses per unit, I need to use Classes and Locations, which are only available on the higher-tier plans.I’ve seen suggestions to use units as customers as a workaround, but I’m curious if anyone else has tried this approach or has recommendations for managing multiple units in QuickBooks with the Simple Start plan.Looking forward to your feedback!