I am looking at 1 acre of land with a well and a septic already installed. 

@Helena Goyvaerts I run the Michigan Real Estate Investors group and we have over 1200 members. 

This means that your permanent residence is excluded (except if you are doing a house hack in which the part that is rented out is eligible for cost segregation).

That's where I live.

@Cameron Moore I knew I could count on you for a legit answer.

So I'd start where you could buy the average home in the metro area and then look at average rents and start looking at that.

Make sure you check the local ordinances / zoning and talk to the local administrator to see if you can do what you are planning.

I went from a W2 job to building a portfolio of 500+ units over the last 5 years by starting small and scaling smart.

Hello, my name is Trevor and I’ve recently took in the interest of wholesaling properties, I have never networked before so I’d like to make friends and potential clients in which we can both help eachother out some. 

I thought I was a big fish in a little pond back home.