.: @David M. I

Rookie real estate investor looking for some advice:I purchased a duplex in Grand Rapids, MI last October (2023).

Areas Florida, Texas, Michigan, Ohio, Alabama, Louisiana and Indiana.

I'm looking for some advice on investing in Michigan generally, and/or Grand Rapids, MI specifically. 

I had a tenant that wanted to renew a lease, but only for 6 months - which would have left us in the middle of January (in Michigan :) Apparently they may inherit a somewhat run down house, and wanted to keep their options open.

@Shaun Ng i own a title company in MI - and i am sure we could help you if you were here however, if VA is an attorney state then you can get help from a title attorney otherwise chat with a title company. 

And yeah Marquette, MI is an appreciating market and a college town where everyone complains about increasing rents (and their bad landlords).Hopefully I can still find a few properties that can cash flow anything, no matter how small, with zero down but I'll have to see if they'll pass VA inspection too.

Quote from @Dan M.: I have to decide if im going to use a new injection of capital from the sale of my primary residence to:1) Hold in treasury bills at 4.5 percent until I find another property to purchase2) Pay off one of two existing mortgages, one at 3.75 percent and another at 4.5 percent3) Just find something to buy that beats either of those percentages on paper and be done with it4) Possibly loan out some hard money/broker it to a friend to allocateIts never an easy decision, but its a good problem to have.

For example, in Michigan those additional expenses would include revenue stamps owing for two closings. 

@Shaheen Ahmed you can find all the info you need online if you know where to look - except that the City of Detroit Assessor's Office is consistently undervaluing properties to keep property taxes attractive for investors - to keep improving the city:)Here's some copy & paste infor for Michigan Property Taxes that you might be able to use as a template for other areas - or you could start investing in Detroit:)----------------------------------------------------------------------------------------------------Michigan has some of the most complicated property taxes in the USA.