If you don't, or if you are still paying MI, then maybe you'll want to consider doing a standard cash-out refi. 

Anyone know of a home owner's insurance company covering Lansing Michigan area for a 4 unit with additional accessory unit for a rental built in 1917 ?

It will be my first rental in Michigan. 

Michigan has no laws about late fees, by you need to check your state & local statutes.Conceptually, if you don't have a solid Late Fee policy, you will eventually get taken advantage of.What we do as a PMC, much of it automated:1) Rent Due Date: first of month- Don't ever modify this as too complicated to track!

Address is 13000 Plymouth Rd Detroit, MI 48227. 

.: Quote from @Don Konipol: Quote from @Samuel M.: I bought an out of state property and have about $50,000 left to pay off for the loan.

You can always start off on house hacking a multifamily in MI 1-4 units with min 5% down or 3.5% down for FHA.

A friend of a friend lives in a development just like this in Ann Arbor, Michigan. 

Purchase price: $9,500 Sale price: $15,000 Tax defaulted property in Michigan

I have a 5 unit building in SW Michigan... does anybody know of a company that will aid in submetering or RUBS outside of Kalamazoo / Grand Rapids??