It would be new furniture and updated appliances, but still need to think of capital expenses.Basic Supplies (tp/shampoo/paper towels) - $200 per monthCleaning - $250?

Detroit can be tricky to analyze, and some deals that look good on paper might have hidden pitfalls (taxes, rehab surprises, etc.).

No broad cities cashflow great right now with managers, some look good on paper but they just have more costly hidden issues then the lower cap rate cities.

@Greg SeivertMost lenders that work with real estate investors understand that you may show a paper loss and they won't hold it against you.

It seems great on paper because you were technically creating more income but you are also creating more of a headache...Cramming in bedrooms and forcing living space is not always the best way of going about things.

Someone who truly loves you will understand Plus if they aren't planning or expecting themselves to leave you or cheat that paper will never be relevant.

You tell us to talk to the builder and on paper you make it sound as though you are facilitating this, yet my multiple attempts in reaching out to the WD Invest with you cc’d on those communications, have been unanswered.  

Low value low quality NP seconds.. the most volatile and risky paper on the market today.  

I got a lien on the house they were flipping, all looked good on paper, then I found out they were using my $60K to improve their personal house!

I’m old school and pen and paper all my expenses then jam a receipt in a folder for each property.