I manage 400 rentals and the most significant claim ever filed was a kitchen fire that cost $20,000.

For your first BRRRR, finding a good contractor and possibly a property manager is key if you’re not handling everything yourself.

We haven't decided if we want to keep this or sell it.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Can anyone suggest and agent or property manager that can help me with this?

My plan for this year is improve my credit, get my real estate license (to increase my income on top of my W-2), possibly career transition into the property management space (to learn more), and save as much as possible and learn as much as I can.I’d love to house hack close to home but my area is so expensive it seems like it’d be close to impossible. 

Loans like this can be useful or very dangerous, depending on how you manage your business.The ideal situation for a loan like this is when you have a property that will take a while to get up and running. 

With the lease up for renewal next month, we’ve decided to keep the rent at the same rate for this year.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Self managing should be easy, if not then that Realtor can probably help you with the rental side of it.