For a single-family, you'll typically need 15% down, while for a multi-family, you'll be looking at 25-30% down.

Typically, you'll want to get out before you hit major repairs or uncomfortable cash flow.

What is the seller typically expecting to sell these for, considering that the UPB and legal balance are lower than the property value?

Also I never buy anything from anyone on facebook, while you may think "hey whats $20", its learning to know who is and is not honest in this space and people like this typically are not going to be honest.

With a background, $40K saved, and drive, real estate can be a great path to financial freedom.Good Luck!

The FFO figure is typically disclosed in the footnotes for the income statement.

Typically those are shorter stays as they are doing something for a couple months vs staying for the entire semester or year.

However, many lenders may require you to wait a seasoning period (typically 6 months) before refinancing.

Typically you can get a window egress installed for $3k-5k.Not aware of a Metro Detroit city that will allow the conversion of a SFR to 2-4 units in an R1 zoned area.- You can improve your search by only looking in R2+ zoned areas.- Will still be challenging to acquire a SFR at a low enough price to justify the cost of any conversion.Regarding Michigan property taxes, we have a one-page explanation document we'll share if you DM us. - The challenge in Detroit is that the city is "deliberately" keeping SEVs low to not scare investors away over property tax increases.

This is my first purchase (don't want to do anything stupid) and the rents could swing 600/month depending on what I'm allowed to do in the basement - I'd be in the red from a cashflow perspective if I can't duplex them.Am I rolling the dice here / do you not typically find out for sure until you close and begin renovations?