.• Person C is still alive and will be selling the real property today for $290,000 with an expected net profit of $235,000.Overview of Ownership and Basis Calculation1.

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Showing property of interest below: This is what I'm understanding...Property price: $210,100Rehab: $30kARV:$270kTo please a bank, they will ask me to leave 30% in the property when I try and cash out...that's going to mean if it appraises to the expected $270k, I need to leave $189k in (270 x .7) However, I've already purchased it for $210,100...is anyone seeing the difficulty here?

@William SilvaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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 Class A property in Class D area, what quality of tenant will you get?

I was really expecting one of these to be -“I want to make good cash flow on a passive first property”

@Aaron Kohanbash start with this;)Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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 Class A property in Class D area, what quality of tenant will you get?

I think I may have read it - but honestly somewhat of a blur because I've read so many different blogs/articles on the various classes of property to help me not only gauge where it is, but also in setting expectations. 

I just saw all my insurance policies come down for the first time (renewal last month) and my condo association is expecting a flat or decrease at renewal.  

That means increasingly better cash flow.I expect Detroit prices to 2x in the next 5+ years given what's happening there and the current trajectory.That said, again, if you believe investing in CA will match your goals it's a great, time tested market.

That will give you a rough idea of what to expect.