Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------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?

Our DSCR product is very STR friendly and heavily lean on AirDNA data vs appraisal.  

She has been in our house 118 days past the end of her rental agreement! 

HUD targets average rents for an area, so just like average school grades, this typically translates to Class C property rents.In our Metro Detroit market, the MAJORITY of the claims about getting higher than market rents can be traced to a Class D Neighborhood/Property. 

The land assessment value is on the tax assessor's site in every county, but that doesn't hold a ton of relevance in my opinion.

We've spent time near her parents in Atenas, and I especially like the Roca Verde community there.I think we'll know a lot more about our direction after this year's trip.

I love this site and all the professionals that give away free advice with no strings attached.

As a family-run business we’re curious—what factors do lenders prioritize most when evaluating projects like ours?