U need to talk to a local that does septic systems  just like a good well driller they will know the areas generally that are a problem..

House HackAttend as many REI meetups as you can to grow your network of investors for referrals, help through challenges you may incur but don't have experience with, and learn from proven guest speakersNetworking app like blinq to compile all of your contacts for REI in one area with phone and emailbegin conversations with local credit unions exploring what type of loan products they offer

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

@Iliana Herrman while your local market may feel safer there are also markets that will withstand market downturns and appreciate.

This is just a brief post to give some insight into the local maintenance costs in the Metro Detroit area. 

Most invest in these smaller assets focusing on wrong criteria leading them to markets without meaningful appreciation and even when they do stumble across a market with strong fundamentals they do not understand  real estate finance and/or fail to exit these assets when they the appreciation event occurs wrongly focusing on rental cash flow.The ability to combine a high earning W2 with a sound investment thesis is a winning recipe but not realistic for most.

Looking to make new connections here.Are you looking for local community banking for lending and real estate related purposes or for personal checking and savings accounts?

Go to GET STARTED > EVENTS AND MEETUPS at the top of your screen.

Ultimately, a “win-win” keeps your tenant profitable while ensuring you’re not underpricing your asset.As for notice periods, definitely check your local regs, from what I’ve heard.

I am leery because it is such a small deal…just 1 small 1 bedroom unit…and not a great a deal unless maybe you are local and have a use for it…walk to community college.