.✔ Avoid Surprises – Owners expect clarity on additional charges.

Expect to have a breakdown or two along the way.

I personally walked and researched every property prior to investing to understand what I was buying, what could be done to add value and what I should expect in cash flow and appreciation.Learning what makes a good investment for you is absolutely necessary. 

I would expect him to respond based on what you said.

LOL   That is exactly what I would expect from the Detroit City Government.If you go there, they are likely going to say you first need a license from a different office on the other side of town and when you drive there, they will say you need an appointment with them, but they only have appointments the third Thursday of each month.  

The property tax savings are going to be in the ball park of 40-60%, but to be safe you should double your expected repairs budget when calculating the NOI.If you have any other questions, or want a more in-depth response, I would love to help!

Providing a lease to the appraiser can also help in giving them an idea of the rents that you're expecting on the report while also confirming that there is demand in the market already for the value that you set the property at.If you're looking to refinance a property using a DSCR I would be happy to help!

Did it work out as expected? 

You can't just insert it in somewhere and expect it to work for your particular situation.There is a lot of stuff in there that is general but you need to make mods to work for you.

Always be cautious of what you charge on things like paint, flooring etc.. most judges will use life expectancy and divide out a pro rated amount you could charge the tenant for excessive damage and not normal wear and tear