Feel free to reach out if you want to connect, I have some people I've JV'd with in the Texas triangle. 

Hi Michael, we're a national lender, so if you need financing in either locale, feel free to reach out!

Based on this strategy, it would only take about 2.5 years to pay off the $160K.

We provide free medical coverage, free food, free housing, free cell phones, free internet, free clothing, free transportation, guaranteed employment for any/all who ask (salvation army), free furnishing of a home, free temporary housing, free shelters, free free free......

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

It is quite a bummer as rental registration is free in Columbus.

I see you are located in Royal Oak, that is the area we've actually been looking at as I'll be based in Warren at the Arsenal. 

We've all probably felt a little pain this year with rents and longer vacancies due to all the inventory coming online, something like 50,000 units in 2024...so plenty of vacancy and free rent while those get leased up. 

If it’s a good deal based on the comps, and in a good location, then I’d look into a conventional loan and maybe putting a little more down so that it cash flows.

The full 5 year proforma is free to give you a good look at what to expect on the deal.