While living in a high-cost area can present challenges, it also opens doors to creative strategies, like investing out of state or leveraging partnerships.

There were at least 5 individuals who seemed ready to rise to the occasion and help this poster with their borrowing needs.

ya Open door capital struggles are well documented..

Hi Nathan,So quick question:  once you verify that tenants abandoned the property, and you posted the notice to front door (giving them x days to respond of course) and they still don't respond then you can regain possession of property and proceeding with whatever you need to do in order to list the house again? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

It is zoned single family but since the previous owner is using it as a rooming house a few things look different that I am worried about the appraiser not passing:Outside doors for each room with locks.The only common area is the kitchen, no dining room, living room, etc.The rooms consist of 5 bedrooms, 1 kitchen, and 2 bathrooms.Each room has a bed and a small drawer which I am thinking of diassembling before the appraiser comes.Would I have a problem with this?

It's nothing like fancy pants hanging around kitchen stores picking out just the right cabinet door and handle pulls.

MLS-listed deals are a bit harder to find, so investors here have had to get more creative in sourcing deals either through their own hustle (door-knocking, website, direct mail, driving for dollars) or finding good wholesalers to feed them deals. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Boots on the ground is hyperlocal, and what you're looking for is essentially cheap labor that can open a door when you need it.