@Joe BellevilleTo build a successful multifamily property portfolio in Grand Rapids, set criteria for property type, location, and budget, build a team, analyze deals using the 1% rule, leverage house hacking, leverage local knowledge, prepare for tenant management, network, and focus on long-term goals.

Feel free to add me to your network and let me know how I can help you reach your goals!

This gets my mortgage payment barely at break even for LTR value, (could be negative cash flowing), and lowers to about a 6% CoC (with down payment, renov and furnishings' costs)About 1.5 pt lower than my goal and with an MAO $10K higher than I wanted.b.

Now, I will suggest the following:Create a financial plan that includes the following:One year goal: reduce your expenses, including credit cards.

I'm getting to a point where I might want to pursue a lender for future investments but am trying to understand how these lenders choose people to work with.These types of lenders are called "Hard Money" because they are not betting on the borrower. 

If so, you may choose to simply add it to the lease as being damaged at move-in so the tenant doesn't get charged for it when they leave.

My goals include cash flow and appreciation and I realized there were other properties that better align with what I am trying to accomplish.

Every year set a goal of buying 2-3 properties per year since you have the income.

If there were other issues though, be aware that they could choose to enforce this minimum at any timeMore recently, the city has created a rental database with contact information of all active rentals in the city that law enforcement and city officials have access to.

I feel that any investment that makes financial sense according to your goals is a good place to start.