The buyer would need to show solid financials also of course (good credit, experience operating rentals, proof of funds for down payment and adequate reserves to cover any unexpected cap ex).

This new property is pumping out around a 10.5-11% cap currently.My credit score is not great as it sits, hovering around a 650 but slowly increasing as i'm paying off debt.

@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It should be as easy as converting one conventional loan that cashflows well to a Debt Service Coverage Ratio loan or DSCR.

It is possible to buy too many too fast and put yourself in a financial hardship.Have you ever heard of a startup store that done real good and added another store that done good?

The greatest profits are in properties that can be repositioned to a higher and better use, or appreciate the highest over time, or will throw off a TRUE cash flow of 20% per annum on total investment (cash + debt + capital investment). 

Financially renting is smart right now but if you want to buy do it. 

Have no debt. 

From a lender's perspective, separating personal and business credit is critical for scaling operations while mitigating personal financial risks.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.