If it's 1-4 units, then you'll need to look at comparable properties, but with 5+ units you'll want to determine the future value with NOI and cap rates. 

Turns out the Listing Agent put tenants in herself.3) I found out 3 days before close that Comparable rents came back too low, despite the Listing Agent having put tenants in for higher rent (an interesting positive from that situation), but the Lender couldn't use her contracts. 

@Jason Smith you may want to consider moving a few of those loans with comparable current interest rates over into an LLC and refinancing them into a DSCR product.

And those can be hefty compared to retail...Houzz, Home Depot, Ferguson, etc. 

I have been using the BP calculator more extensively compared to the others I mentioned.

One thing that helped me when I started was getting super familiar with the local market and building a network of reliable folks (like other investors and contractors) who could make the process a lot smoother.Feel free to reach out if you have questions about investing in Michigan or want to compare notes.Best, Travis

@Eric FicheraAlmost any market is landlord friendly, compared to NY.

They may sell at a reduced price compared to a homeowner who has taken care of and loved their property.None of these repair issues are a deal-breaker by themselves.

Every day, it seems like more and more inquires, meetings being scheduled, showings requested. Exciting! Investors never stop! 

A comparison would be a STR compared to a LTR.