Looking back on your earlier projects, what were the biggest mistakes or lessons learned in securing funding or managing build costs?

Quote from @Nitesh Chand: This is a question your property manager or realtor should be able to answer for you.Since the tenants have occupied for less than a year, I believe you have to give 60 days notice to the tenant before you can list the property.

I would focus on a duplex first so you learn house hacking and management of one tenant.

Use pricelabs, I also integrate with guesty for hosts which allows me to manage listings on airbnb vrbo and booking.com.

Accounting for 10% management, 5% vacancy (2 year lease locked in on tenant that has been there 2 years already..) 10% cap ex, and 5% maintenance.

I am the program manager at Apartment Addicts and its a great multifamily mentorship program.  

In my opinion, more important metrics are total profit and time spent managing the operation.All marketing works.

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.

More than likely the asset will in a location where cap ex & management/operational costs are disproportionately higher and therefore your expense ratio will also have to be adjusted to a higher number.  

Thoughtful upgrades and efficient project management made this a successful venture, highlighting the strength of our partnership and commitment to delivering high-quality results.