A local bank relationship How did you add value to the deal?

Of course this all depends on if you are buying locally, right?

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. 

Detroit can be a fantastic market with strong cash flow and good appreciation potential, but it’s definitely a unique place with its own quirks.Starting with cash is a smart move, especially in Detroit, where local knowledge and relationships can make a huge difference.

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?

@Hamidou Keita House hacking by converting a single-family to a duplex is a smart strategy, but requires careful planning.Pros: Offset living expenses, higher rental income, increased equity.Cons: Significant conversion costs (permits, construction), zoning restrictions, living in a construction zone, managing two tenants.Key Considerations:Feasibility: Check local zoning and permitting.Costs: Get detailed construction estimates.Market Analysis: Ensure post-conversion rent covers expenses and there's rental demand.Resources: BiggerPockets forums, local contractors, real estate agents.Have you researched your target property's conversion potential?

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.  

I would think that a property manager would be able to assess your specific unit, be able to determine what market rate is for the local area and the quality of the unit, what the market rate rate is for your specific unit, to suggest what your unit could rent for based on some improvements and have a sense of what rent increase would be tolerable by the tenants. 

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Laundromats are open to the public, and if the local neighborhood has a high crime rate and transient population, those can be potentially expensive problems that can affect your business.