That metric is a little dated, but I think you can adjust it to 15%.

A few things to think about:1.

Blankets and quilts people might dry but not wash in your machine (take them somewhere and think they are dry and have to throw them in again when they get home). 

Write it up to an education, spend some time sharpening your support team (particularly in the trades) and start thinking about how you can do it again!

If she went to buy a house and applied for a mortgage, I think the lender would say the same thing aka you don't qualify until you get this removed from the credit report.

I think you will have a hard time selling it with the tenants there, meaning you will take significant cut in your sale price. 

I just can’t imagine how everyday people spend this much money on pipe.I don’t think insurance covers any of the foundation repair, also wonder if insurance will cover any of the sewer line repair work?

Hey, what do you think it's the first step to get into the flipping market as a beginner ?

I think the math should scale (i.e. for ~$2M I should be getting >12 bedrooms minimum).Does anyone have experiencing owning investment properties near UofM central campus, and/or as a property manager, that can comment on how the rental market has been for the past decade plus (stability, concerns, etc.)? 

In some places I think courts prevent people on the same insurance policy from suing each other, and some insurance policies exclude two people on the same policy from suing each other.