There are a few concerns that made me question going through with it, but I have a few contingencies for backup if anything goes wrong.

But with a co-living setup, renting out each bedroom separately at $850 per room could generate $4,250+ per month—a 70% increase in rental income. 

They all left at the first sniff of an increase despite still being below market and they were all pretty upset about it.

I’m a little concerned about off season rentals.

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

In case you missed it, Detroit' Mayor Duggan announced that the value of houses in the city increased 23% in 2024.In the last 7 years, Detroit housing is up over 300%!

Then if I have additional concerns I call in an expert to get further information and an estimate on what the repair will cost.

Partner Driven, alongside Jerry Scott and Chad Wolfe, transformed the property, increasing its value significantly.

What they are currently using the home for (renting by the room vs renting the entire house to one group) isn't your concern.

Property Taxes Will Likely Increase After Purchase•If the current owner has a homestead exemption, their tax valuation is capped.