: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 protects you in the deal if the home appraisal is low or a home inspection finds major issues with the property.Have your finances in order with either a pre-approval letter or cash to buy the home.

I found the property, handled the majority of the closing process, and am going to be the property manager.

Some questions I’d ask and get asked often1.) like others mentioned, a major question I’d  ask is how many rentals they currently manage to see their current workload and see if they have the bandwidth to take on more properties.

Now if they got married, had kids, and a vast majority still lived in apartments that MAY have the makings of a trend.  

Have you ever overlooked a major item that needed replacing?

If you do have experience and connections to build then do it but majority of time buying an existing SFH works

I was raised and lived in Bloomfield majority of my life.

We are in a semi major metro (Tampa) so while labor is always challenging it is not as difficult as a small town I imagine. 

Detroit is the poster child for major city declines.