I paid her the $20k (in our fictional example) for her share of the equity in the property - or so we were thinking.The funds she received mostly came from a cash-out refinance, with the proceeds probably going into our joint bank account - in case that's relevant.I'll look up the title docs from the transaction, but I think she just signed quitclaim, with no mention of "purchase" or funds exchanged...:(  Again fellow BP community, learn from my mistake.I'm still not sure what bad news may come, but the good news I guess is that in any case I may have slightly under-estimated my adjusted cost basis since I didn't incorporate the debt I assumed...Thanks again for your comments everyone.Joe

I have really only had one buy/hold rental property in my life, but I'm looking to cultivate a broad selection of multifamily properties.I'm just in the beginning phases of starting a company with my cousin, and we are interested in walkable communities in the Metro Detroit area: Midtown, Corktown, West Village, Grosse Pointe, Royal Oak, Birmingham, etc.Rock and Roll,John

Are you set on Glendale and Burbank or would a neighboring village such as Atwater or Montrose work as well?

Since the crash, I haven't seen any depreciation in values on the north or northwest sides.Personally, I'm looking at possibly investing in the Little Village/South Lawndale area on the southwest side, but I'm actually working on learning Spanish first to connect more with the community.

Most of these units that I have seen in my years investing in the Ukraine , Wicker Park and East Village areas have been converted to duplexes, meaning top and bottom units combined to add more space and rents are tripled to cover the cost of upgrades.

Below you can see the agenda I copy and pasted:6:30 – 7:00 pm: Networking and Deal Making with your fellow investors (both new and active)7:00 – 8:00 pm: Main discussion: Houston Real Estate Market Report8:00 – 9:00 pm: More networking and Deal Making____________________________________________When: Thursday, February 25Time: 6:30pm - 9:00pmWhere: Pub Fiction (We will be in the room on the left)Dress: The dress is always casualInvestment: There will be no charge for this meeting.

So the box Vinyl Village type homes is the current build (mixed in with townhomes, duplexes, quads).

Reference: Woodside Village v.

I also look on Airbnb at properties that are fully booked and see what sort of rates they are getting (long term would be lower but you can weed out overpriced rental listings this way).You can also look at what an apartment is going for in the area and take an average... you can typically get a bit more for a single family home.In durham I would look at houses in American Village, Forest Hills, Woodcroft in that order if you want a sure bet. good luck!

.:) I would have kept the lot and bought another trailer house to move in so I could start the money machine again, but the village decided after the tornado that no individual mobile homes could be brought into the city anymore.