Start small with one property, choose a strategic location, stay transparent with lenders, and ensure tax compliance.

And always set aside reserves for the unexpected.always look at location, schools and is there an area that is gentrifying where we could take advantage of better appreciation Inspections are paramount.

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Hey Chris, a few thoughts here.Considering that office is not attached to the house, I wouldn’t add any footage to the total home square footage; however, you could advertise that office space and amount of footage and amenities in your remarks.If you’re a Realtor or are using one for the sale, your local MLS may have fields dedicated to additional footage for other buildings on the property, such as ADU’s.The other point is that typically, perhaps depending upon location, a space needs to have heating to count in the square footage, which this office doesn’t have if I understand correctly.Consider contacting an appraiser to inquire about how they would handle this space on an appraisal, or a Realtor.

We do, however, have to register in the State where the property is located.

To get a 3/2 with a pool in Naples you're looking at 550k+ in a decent area where a STR would thrive, in Cape Coral its closer to 400k+ depending where in the Cape the house is located. 

With all of that said without know more specifics about what price points you're considering and location I'm going to Generalize1.

Biggest caveat is you didn't mention the location.

Hi Meena,I am located in Austin TX and work with foreign nationals as well.

These include accidents (I recently had 2 units destroyed by fire), natural disasters (I have had two units each hit by 2 hurricanes), property management turn over (they sell or stop being as good, I have experienced both), or turn over of team (I am turning over at handyman and I suspect plumber), or just wear n tear of property (slab leak in poor location, sewer pipes rotted out (one unit this month), roof, foundation issue, etc.).