The renovation process included modernizing outdated features, updating plumbing and electrical systems, and enhancing curb appeal.

My primary goal is to find the most cost-effective solution that minimizes tax liabilities, including avoiding property tax reassessment and maximizing the step-up in cost basis. 

With ongoing developments, including the Franklin Yards project and FUSE District revitalization, property values and rental demand are expected to rise.Kannapolis (28081) – RTP & Growing DemandReturn on Investment (ROI): 7%Rent-to-Price Ratio (RTP): 13.30Average Price per Sq.

Now we are mostly scaling our business with larger communities but I've used many different creative finance strategies including seller finance, private lending, hard-money, collateral from other properties, and lease-options. 

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

Many carriers are including exclusions for GC commercial general liability coverage and professional liability coverage for engagements involving condos and even stricter exclusions when dealing with conversions.

If the land is included with the mobile home, there are DSCR lenders that will be willing to lend up to 70% LTV as long as it is not a rural area. 

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.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.