This provided a substantial return on the initial investment and freed up capital for future projects.Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45%Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)With a 40% expense ratio, the DSCR is approximately 1.45.

What I don't like about it personally - this seems like a very risky move.

Don’t hurt your ranking by splitting your property into many baskets… especially those personal websites!!!!

I recommend you personally talk with each of your tenants and ask if this has been happening.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

@Scott Schnabel actually, the cities of Hazel Park and Warren require a DL from someone at the PMC and write the tickets in their personal name.

While there are definitely benefits to running a fund, it's tough to achieve success with funds as a beginner because oftentimes investors are attracted to the track record of the person or team running the fund. 

Personally I use RentRedi (free with BP Pro) for management and Zillow for applications and screening.

I have not been able to find any in person networking events in my area doing a basic internet search.

I personally do have experience with renovations, and being a landlord and have done a few flips some went well and some did not and I have learned some valuable lessons along the way.