Our goal is to have a short term rental business and build it over the next several years.

I have invested in real estate casually in the last several years, and am looking to step up my game by learning from those willing to help, and succeeding with real estate. 

Good market or not so much thx Just as an aside, there are several much better markets between where you are and New Orleans.  

Several types of investments.    

(They did multiple inspections, also came for several full afternoons to just poke around the house while we were living there.) 

Hi @Michael KlickThere are several advantages to uses a HELOC.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

.🔹 Property Tax Relief – If your property is severely damaged, you may qualify for reassessment and potential tax refunds.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Keep in mind that pool maintenance and chemicals will set you back several hundred a month, plus higher insurance, utilities etc.