While I don’t suggest that the smaller type investor purchase and utilize “exotic” vehicles like foreign asset protection trusts, family limited partnerships with outside controls, or Byzantine or convoluted maze of ownership entities, the more simple strategies of using Series LLCs, self directed retirement plans, and paying off their home mortgage to the extent of the Federal BK homestead exemptions can insure that a plaintiff attorney never even considers going after them.  

Focus on building and maintaining active income first.

We are a growing market with low unemployment but you will see a lot of the rental income going to covering expenses and setting aside reserves. 

They know who their primary audience is, people who are broke, newly interested in real estate (maybe from tiktok), and want to get rich off of possible income without putting in the effort to make a bunch of money.

There are a lot of other issues, but for you as the owner, the main one is usually do you have to have the current tenants out to build (no income) on to the existing property or are you going to do a knockdown new build?

Buying a mobile home to place on your land can be a great way to generate rental income, but like any investment, it comes with pros, cons, and key considerations.On the pro side, mobile homes are typically more affordable than traditional single-family homes, meaning lower upfront costs.

@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Bank of America does this - not sure about the minimums, but if you have a good relationship with your local branch, they can waive the monthly fees until your balance grows from rental income.

Low income neighborhood, yes, huge returns, not really, but it was all cash; net for me was $10k.

I just received an application from someone who meets the income requirement (3x rent) but not the credit rating requirement.