In that case you need to review the house rules and check with management.

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.

hey @Matthew Toporowski, at the least I would check their financials/tax returns to see how profitable they are (which translates into how easy it will be to pay your rent).

Obviously, the rules will differ from state to state.The most successful buyers have trusted bidders with cashier’s checks in multiple denominations (for cash sales) and the actual buyers have field runners and people to monitor multiple prospective properties at a given time and check sales status for postponements due to BK, etc.This is the case in larger metro markets where many properties could go to sale but few do so.There are often better ways to acquire properties then auctions.

My wife and I chose to write down our own rules for both our marital property and our estate, so that it doesn't go to whatever wacky CO law governs distribution of wealth.

wholesaling is definitely not an "easy" way to get into RE investing.

I also do 30-year cash out Refis on my rentals once they’re rehabbed and rented so am very familiar with DSCR loans and rules.  

Prices there tend to be fairly high so make sure the financials make sense to you.If you're going the townhome route, make sure you fully understand the rules and regulations of that particular community.

But a bedroom or a bathroom can be easily qualified in terms of dollars (I usually see $4,000-$5,000 allotted for differences in bed/bath count).Truthfully, if I can't find easy comps and if I can't make it easy for the appraiser to agree with the value I'm looking for, I just don't buy it.

Also another consideration will be the 50% FEMA rule.