@JD Gunter I agree and should add that I spend 2-10 hours on the phone/zoom with each applicant before I let them into the program. 

Additionally, I expect applicants to follow instructions in the advertisement and application, to make and keep appointments, to show up on time for appointments, dress and behave appropriately at appointments, and in general demonstrate throughout the process that they are someone that is easy and pleasant to do business with.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

As with every loan process, there are terms and steps the foreigner needs to follow, such as the loan application, which includes pre-qualification and property evaluation.

@Jorge Vazquez we stopped doing signs over 10 years ago.We had a separate phone number on our signs, so were able to track traffic & applications from them.We were getting more & BETTER leads from our online ads then the signs - so an easy choice to stop using them (also time & money savings).

After communicating with a prospective resident (Google Voice #, usually by text), with just a name, telephone number and email, the applicant can pay $55 to provide us with a background, eviction and credit check.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

I'll add a few more things that can have a huge financial impact: required reserves, LTC (loan to cost), application or other upfront fees, and prepayment penalties.As a fellow flipper, I think it's important to have reserves, but they shouldn't be required as part of your funding.