ThanksHello Imani, my husband and I have been building big beautiful brick properties day in and day out in Detroit for the passed 5 years straight and I’m proud to say we are experts in all aspects of building and maintaining successful rental properties in Detroit City.  

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

Contact Extreme Clean they do cleaning and mold remediation or diy since it's a small area.

He should be paying into workman's comp and be the experts in evaluating the level of risk.Do you have an umbrella policy in addition to the property’s policy?   

So any advice would be extremely precious for us to leverage some past lessons and experiences from the veteran investors here to reduce our risks of investing.

I would love for you to provide as much information as possible, as it is extremely useful to me.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Communication is HUGE. - Being straightforward and honest is extremely helpful when managing tenants.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

I am extremely interested in pursuing a career in real estate.