We fixed the foundation and the flat roof issues with pooling water, and rents didn't meet the mortgage just yet.In 2023, we finally started to cash flow.

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.

We just started managing 4 tiny homes on 1 lot with a shared pool and they are booking great at a rate commensurate with larger homes.   

However, for every dollar put into the property, a net-new incremental share is added to the share pool; that share is then owned by the giver.

The applicant needs a credit card to complete the process and they charge more than $25.A lot of landlords in Milwaukee do the same. 

The problem is we have so many mom and pop landlords and there is no central system to communicate new laws. 

Certainly from a capital raise perspective, $5 -10 million is a reasonable amount.That being said, raising capital for a blind pool fund is much more difficult than raising capital for a syndication where the property is already identified and the potential investors know exactly where there money is being invested.

Pools, gym, etc. 

Repairs: Add a pool ($65K).

Falling out of compliance can lead to penalties, lawsuits, and even damage to your reputation as a landlord.