The removal of the Taxable Value cap and the switch to Non-Homestead millage rates can double, even triple, the property taxes.

I think you will probably need 4-5 bedroom to make it work close to break even and you may even need to rent out your bedroom occasionally when the opportunity presents itself. 

We target young families with double income and kids that want to be in a better school district, which automatically puts us into suburbs outside of Milwaukee and MPS. 

I would be very careful with using 100% leverage in a deal.I had to do a double take.Thought that was me posting.

I was never licensed and never wanted a license.I don't like being held to a "higher standard" lolIt's cool being able to tell Wise that he is a wanker and not get in trouble by the division of real estate for doing so haha.Also, you can market and sell what you own without having a license.PM is a different story and as you mentioned mate, an officer of the company has to be a broker in order to satisfy the division of real estate.We are actually double d#$%ing and have two brokers as officers as the division didn't like that our broker was in Florida so now we had to get one in Toledo also.If only I was a whistle blower, could make a nice buck as I know of at least 2,000 units illegally managed in town by folks without a license or broker.🤷‍♂️ thats why we worked together on deals..  

That being said, I scrapped the idea and bought another rental property.One hack to consider, a colleague of mine finished a third floor, made the third floor the living room and kitchen and the second floor the two bedrooms because that scenario avoided the need for a second means of egress.

If you go the single family home route, I would find a house with 4-5 bedrooms so you can live in one, rent the other 3-4 via house hacking.

I bought a two bedroom one bath house in Indy for 70k which was 10k under asking.

- Assign vs. double close.

With a rate for a first mortgage today in the 6-7% range something like this probably is going to be close to or in the double digits.