(income = 3 x monthly rent, Debt-To-Income, etc. can still be used!)

If Landlord has filed an eviction due to Tenant’s Default or other breach, including breaching for non-payment of Rent, regardless of the outcome or disposition by the court, Tenant agrees, upon request, that the court shall make a determination who the prevailing party is in any eviction and whether any attorneys' fees and court costs sought by any party are reasonable.

To go this low, you will need sharp credit and solid rents.

Are there any house at that price point that would rent for $1200-1500/ month with 20k worth of updating?"

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

Bonus points (and money) if you rent out the rooms of the unit you live in.

Some rents in what some define as an A may hold strong values but rents compared to purchase price may not be comparable to a B.

I don't see them showing up or paying any of the back rent that's due to become current if they wanted to stay.

: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.

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.