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.

House hacking is a great start since you're paying rent already.  

We're improving units, management efficiencies and bringing rents to market value.

Your best route might be to buy a 2 to 4 unit property that you can live in and rent out the additional apartments.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

Show comparable properties, rent rolls, or recent sales to justify your offer or counteroffer.

I am a buyer - my buy box is 200k ARV, all in $150k after repairs, rents for $2000 per month.

The concern with places like Irvington will be once you move out and no longer owner occupy how do you raise rents legally.   

Figure out what rent would be in the area.

Single family homes are exempt from rent control when privately owned.