The vacation side is more of a business and requires a lot more work but the affordable housing side is less labor intensive. 

This is just a brief post to give some insight into the local maintenance costs in the Metro Detroit area. 

Is there any good rules of thumb to estimating the cost of a boiler?

Cost to Rent vs Own and Return to Work PoliciesThis can mostly be attributed to the massive increase in home prices, particularly from 2010 to today, making people opt to rent for longer, especially today in the elevated rate and home price environment making renting the substantially cheaper option, on top of historically low inventory to choose from.

I don't think most Americans comprehend the economics of #3 and #4. #3: onshoring base-line manufacturing (a) creates more employment opportunities for both skilled and unskilled labor (b) creates more employment opportunities of jobs that elevate and train unskilled too skilled labor  (c) raises base-line wages and benefits via competition for unskilled labor (d) elevates the entire economic chain via more domestic circulation of $ and (e) less exporting of USD #4: stopping illegal immigration defends and protects legal immigration.

But if borrowing costs remain high and interest rates don't fall as many people expect, cap rates will have to decompress further. 

The seller will lose some rent, potentially incur costs to evict, possibly costs to clean out the units depending on your sales agreement.

What about the second and third year when you no longer have the labor-intensive initial setup?

I think there is a common misunderstanding that licensed contractors cost more.

The primary risks at this point would be       1) to your lender, the risk of a margin call.       2) To you; underestimating the true cost of a project and cost overruns      3) To you; legal risk of securities regulations if you partner looses money.