With that she can determine, of the cash received how much should be set aside for taxes, then gift the ex-spouse a potion.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I agree that working with people is easier and more cost effective than the alternative.As I read this, I'm considering creating a Cash For Keys written program that I can give my tenants at lease signing to remind them to come to me rather than just stop paying. 

That said, I wanted to share my story about how I found an out-of-state property, got it rented, and set it on autopilot.BackgroundI’m in my late 20s, living in a very high cost of living city and working in tech.

Payouts would have to be set up from the sellers primary Airbnb account and you would want a contract written.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Would you consider it to be in an A, B, C, or D neighborhood?

I don't know anyone with a large number of cats that I consider mentally healthy.

Now to provide extra comfort and convenience to our buyers (who are mostly out of state) we agree to help them out by getting them set up with local property management that we work with closely as well as assisting management market the property for rent to place tenants.

I'm planning to turn it into a rental and was wondering if I should consider hiring a property manager for my first rental.