that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

So, questions: (1) How do I properly introduce myself role when calling a seller and cash buyers?  

Let me know if you plan to make it so I can let the owner know and he can make sure they are properly prepared.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

@Zach Howard you pretty much MUST hold it in an LLC if you don't have the proper visa or greencard.1) Many attorneys over-hype the benefits of an LLC for each property.

So, there must be a way to do this properly, as they must be doing it.

2) Their contractor must be properly licensed and insured and we require copies of all this.

Definitely screen properly and don’t cut corners!

Having reasonable expectations, hiring a local professional (Realtor or PM), doing your research, and doing everything right (i.e. pro photos, professional design, good renovation, proper amenities and location, etc) are the keys to success in 2025.

There are so many options for LVP now, from lower priced to higher.Yeah, that's not a proper install, you'll have problems.