Aim for at least median price.

That's less than half the price you were quoted.In this case, I think it would be worth moving grandma out and selling the trailer for $3,000.

If Im understanding correctly, youre buying the home from your mom who will take a first position lien on the property in exchange for carrying the $100k of the purchase price on a private note.

Ensure the property’s price aligns with market trends, and work with a local realtor to help with due diligence and negotiation.Good luck!

Purchase price: $540,000 Cash invested: $108,000 Sale price: $540,000 My client bought a condo in Lincoln park.

To minimize time the property is vacant, have the Realtor coordinate with the existing Tenant for the last 30 days of their occupancy for showings so you have the best possible chance of securing a new Tenant without a break in between.I would love to know some of the details of your property, and do a rental rate check up to confirm you have the right price. 

My only experiences with Detroit area are through friends that purchased low priced homes there years ago also I am not qualified for advice on that front, but do have SFR, turnkey, and commercial experience and think those could be great options for you.

DC properties are expensive, but they probably do not hold a candle to the crazy prices in Boston. 

The price point for a positive cash flowing single family house rental is typically 120-180k purchase price here so I am sure you'll be able to scale very quickly here with the capital you're working with.

People might be taking advantage of the rising prices.