Take a look at the HOA and see if it changes every year, HOA price increases can factor in on your profits with respect to Condos

Investment Info:

Single-family residence wholesale investment.

Purchase price: $9,500

Sale price: $15,000

Tax defaulted property in Michigan

It's a simpler entry point and aligns well with serving protected classes like veterans, seniors, and single mothers—key to ensuring stability against HOA or city issues.Begin connecting with non-profits and agencies that help these groups find housing.

There seems to be some lack of knowledge on the owners' part come to think about it.Do you believe the wholesaler was up front about never intending to close on his behalf and simply profiting from being the middle person?  

By optimizing operations, leveraging technology, and exploring diverse markets, you can create a structure that grows efficiently while maintaining profitability and reducing risk.

LCC as a basic pass through and limited partnerships depending on equity arrangements and profit share of the parties add that extra level of flexibility and not needing to split potential individual partner costs or liabilities.  

Make sure to draft a solid operating agreement covering decision-making and profit distribution.This post does not create a CPA-Client relationship.

Of course I'd choose a place closer to a train station in a larger city but, I'm not looking to make insane profits.

The increases are not strictly about creating more profit for a Landlord, but rather more often than not, they are necessary to keep a property in good condition (including good financial condition), meet safety standards, and ensure a comfortable living environment. 

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.