I am currently in the market to purchase a tri-plex with the plan to live in one unit, make upgrades, and rent the other two out.

You have to factor in demand and vacancy rates to determine if it will be more profitable, and that’s specific for each market.

@Ryan Daniel  I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection in relation to real estate investments.

One of the things we do and recommend to our clients is to purchase a home owners warranty to cover all of the mechanical, electrical and plumbing compenents.

I could purchase it for $60000 and it appraises at $110000 as is.

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

Curious...have you already identified a specific neighborhood in Findlay where you see the most potential, or are you still exploring the entire city?

I have an opportunity to purchase a mixed use property that seller is open to using partial seller finance.

If the violations took place prior to purchase, I would at least give them written notice that you are aware of the previous violations and that just one under your watch would result in an eviction.in the meantime, I would shop for new insurance and pass the increase on to the tenant.

So it was 153k for the purchase and 40k for the rehab, I had to come up with the rest.