Quote from @James Wise: Quote from @Calvin Thomas: Quote from @Rene Hosman: Quote from @Spencer Ware: Looking to start expanding portfolio.  

@James Wise MICHIGAN UPDATE: new law went into effect January 2, that landlords can no longer discriminate on tenant income source.

-When a tenant moved out, the management company refunded their security deposit but failed to account for damage, such as holes in walls and outlets ripped off the walls, leaving me with repair bills and also tenants moving in without the repairs being done.Stuff like this that is consistent and when I ask questions they are defensive, when I ask for more quotes for high ticket items they are defensive. 

As @James Wise and others point out; Do the basics.

@James Syed I am not familiar with your county rules.

@James Wise gonna have to disagree with the "lie cheat steal" concept regarding residents.Any resident has the potential to be less than desirable.

@Wiley Hood DIY cost segregation tools like KBKG can be cost-effective for simple properties, but they lack the precision and audit defense of professional studies.

It could vary of course depending on the defenses of the tenant and if the court is presently backlogged.

Quote from @Devin James: When running numbers on an investment property, I focus more on equity growth than monthly cash flow.Here’s why:If I can acquire a property at a low basis and add significant value, I can: 1) Sell and reinvest elsewhere 2) Cash-out refinance to recapture my investment.

Quote from @Jeremiah Dunakin: Quote from @James Wise: Quote from @Jeremiah Dunakin: Quote from @Bruce Woodruff: Hourly rates are not crazy for skilled labor nowadays...what gets my attention is that the Handyman works for the PM.