Think of them as a firewall protecting your other assets if one has a loss.

For non-primary residences, they have to follow all of the following rules to receive a permit: - the property must be a minimum of one (1) acre in size (designed as a precaution to disturbances)- The building standards of the underlying zone district must be met - Adequate parking is provided - Defensible Space requirements are met - Valid water and sanitation must be demonstrated - No more than five (5) bedrooms are in the dwelling As time goes on, they continue to become more strict on the rules listed above here, and are actively regulating it.

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants/higher rents & reduced management expenses Tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property.

My primary residence is debt free as is my rental property-- the thought is the rental will supplement the retirement income and I'm not chasing ROI/ COCr / vacancies / etc.Thanks for the welcome! 

Often times we have the vendor/contractor reach out to the resident to communicate directly on a time when they will be home to let them in.

I used to manage a few MH communities in Michigan and oversaw transferring of titles when our residents sold their homes. 

It only applies to residents living in Jerome Village so for investors, it would only apply to rental income from Jerome Village properties, not your entire portfolio or out-of-state income.

Just make sure the builder’s risk policy is in place while the property is vacant and under construction to protect your investment.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I'm finding out that if I make the property my primary residence for 1 yr and then turn it into a rental.