Most importantly, enjoy the journey and celebrate your achievements, no matter how small they may seem.

There will be no assessment for increase in taxes or insurance so remains at $1935.

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.

I'd be a hard no in their position.

You can use form 3115 to catch up with any depreciation not previously calculated.If you have a condo, it is possible that there is no land allocation.Furthermore, if there were any assessments made by the Condo Association, you want to factor those in as well.

So no leasing agent, no maintenance. 

So far, the best deal I have been able to find is 5% down with no PMI (80% from Fannie and another 15% from a second lender).

when they find a growing market that works well for their investment there is no reason to try to look for another market. 

There's no doubt you'll find success over time!

@Alec Jacobs I have basic low/no fee business checking accounts.