Have you taken the time to sit down and reflect on last year and how you did compared to the goals you set for yourself in 2024?

Any recommendations for something that will last for awhile? 

My end goal is change the lives of others one property at a time and I am hoping this group will help me do just that. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Etc, etc, etc.What are your goals; near, mid and longterm?

Last two years I averaged $4300 for the season.

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.

This synergy makes our team stronger and keeps us all moving toward the same goals.6.

That is probably a good start to setting the goals you need to achieve to make the dream happen.

Following up on the last comment: please see the following link for more detail:https://www.irs.gov/retirement-plans/2019-ira-dedu...