Screening everyone over 18 helps reduce the risk of costly evictions and ensures you’re fully informed about who will be living in your property.Additionally, be mindful of the number of occupants and how it might impact your property.

Note that Sec8 comes with added costs & issues due to bureaucracy and state of the HUD departments in the area.

It will only create unnecessary hassle and cost.

We haven't event gotten our minds wrapped around cost segregation and depreciation, and our current CPA doesn’t seem to have a handle on these concepts either … 

A typical PPM will cost about $10K. 

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

At 3 years none of the costly items have hit their end of life.  

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

Smart thermostats, in particular, can help you monitor energy use and lower costs between stays.I hope everyone’s experiences and perspectives help guide you as you start this journey!

I'm very good at running comps and determining rehab costs.