I have a property management company manage them as I have a full-time job, wife, and 2 boys.

You're not in the position to be a cash buyer...as a former wealth manager, it's simply not a good play for you for many of the reasons stated above and more.  

With the right renovations, we saw it as an ideal project to maximize returns in a growing market, especially with our experienced partner, Seth Choate, by our side.

I manage 400 rentals and the most significant claim ever filed was a kitchen fire that cost $20,000.

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

Any new commercial, industrial projects nearby? 

Wealth in real estate is usually, though not always, made by buying and holding properties, and the passage of time. 3) Consider working for a property manager or real estate investor in the summers as an intern.

Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.

Loans like this can be useful or very dangerous, depending on how you manage your business.The ideal situation for a loan like this is when you have a property that will take a while to get up and running. 

My plan for this year is improve my credit, get my real estate license (to increase my income on top of my W-2), possibly career transition into the property management space (to learn more), and save as much as possible and learn as much as I can.I’d love to house hack close to home but my area is so expensive it seems like it’d be close to impossible.