After some additional research we have decided to focus on the aforementioned markets, but I will keep you in mind if we decide to look at Columbus more closely in the future. 

Make the place nicer or lower the price to get bargain shoppers. 

He was working full time too, but the excitement (and nerves) of closing on that property had him checking calulations day and night.

Do you by chance have it written anywhere to close all doors and windows? 

Having the seller carry a second is not a problem for the first, as long as their business with you is finished and the loan has closed.

Lower interest rate at 12% is $8,400 year ($42K for 5 years) plus his initial investment of $70K equals $112K.

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.

Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.

Basically, lowering the sale price as long as the buyer pays all the owed taxes as well.

Quote from @Lorraine Hadden: As we close out 2024 and look forward to 2025, NAR released its 2025 list of top performers in 10 metro markets.