Las Vegas attracts investors from all over the world for good reason so I think you are on the right track starting here before expanding.

so he has an initial negative equity in excess of $100k.so -$100k / (a very small cash flow when properly allocating for expenses and vacancy) equals years before there is any cash flow.  

One thing I’d stress is the significant difference between Detroit proper and the surrounding metro areas.

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

Of course our big motivation is commission but you can get commission or a referral fee or something in an off market transaction if done properly.

Hey Jacob, do you plan on expanding the portfolio?

Just closed one in my IRA to kickoff 2025 and looking to expand that market.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It's properly leveraging (not over leveraging) the asset that pays off.  

The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.I hope this basic guide helps.