Within the last two months I did what I thought was making my home “renter proof” got rid of carpet, added new appliances, repaired and painted walls, fixed up the landscaping for some visual appeal.

They also improved the landscaping.  

The tenants rental property will cover all of their personal belongings and since you are using a PM company I would assume you will not be keeping any landscaping equipment, tools or possessions at the premises to need that much coverage.

Then I worked with David Meeks to find a few properties, understand the residential RE landscape in each city, and review a few properties.

How do your earnings compare to a long-term rental where the tenant pays for utilities and landscaping?

A 3 stories high 100 units property that sits on a 2 acre land will have a significantly less landscaping (contracting services) costs than a 2 stories  garden style 100 units property that sits on 15 acres of land with lots and lots of landscape. 

Closed yesterday, 3 bed 1 bath Bungalow with a basement/garage in Redford Michigan.Redford is a suburb of Detroit, close to Westland / Livonia / Dearborn / Garden City / Canton / Plymouth area. 

So it’s a matter of you feeling comfortable overseeing the project.If you have no experience or knowledge of construction, house repairs, or landscaping it might not be in your best interest to tackle such a project for your first deal.Do you know anyone that could provide the guidance and help you?

If you are looking at a small multi-family of four units or less:Rent RollReview all leases, addendums, or other agreementsTenant payment historyAny violation notices, delinquenciesList of all maintenance in the past yearSchedule of capital improvements in the past 3-5 yearsUtility bill reviewP&L for current year plus the last 1-2Service contracts (landscaping, cleaning, snow removal, etc.)Inventory of all property owned by SellerThere may be more but this is a good start.

Hire and manage a design team, including architect, landscape architect, civil engineer, soils engineer, to produce the initial design concepts and schematic plans necessary to complete the entitlement process.