If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

How many glamping spots are you expecting on this?

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

I’ve seen too many new builds stall because no one spotted the red tape early.

All of the comments are spot on for things to consider. 

- Hi @Sunny WuThanks for sharing your challenge... it’s a tricky spot, but one that many landlords face.

Johnson City could be a great spot for STRs, especially if you focus on hospital staff rotations, visiting professors, or traveling professionals, which would balance out any seasonal dips in tourism.For STRs, consider targeting weekend travelers exploring the Appalachian Trail, Boone Lake, or local festivals.

I became a select mentee of theirs about two months ago. 

The theory is spot on, in practice however that logic rarely plays out - at least in recent years where multifamily has been crazy.

Pick one and tell me why you selected buyer or seller!