Or then you look and by adding the cabinets, sink, and a separate entrance, you could get 150 a night but the extra rehab costs 20k to do, I think you have to look at taking less rent for putting in less money.To me, given where you seem to be new, I would go the cheap route to start. 

The area and price range you mention  should go  very  quickly regardless of the time you list the property... when you sell - you can also ask the buyer to provide you with an extended closing date or lease back ( if you need some extra time before needing to move ) . 

so what you need to do is the leg work / networking to find out what the other local folks are doing. 

Fernley is a small town, less than 20,000 folks, and so far my realtor wife and I have not seen a significant impact from the Tesla announcement.  

I feel especially bad for the older folks who are on a fixed income as they are getting slammed with 6 figure assessments.

Its a gamble to go the permit route or not in Philly and absolutely matters the neighborhood/your neighbors as they are usually the folks that will call L&I on you OR if your property is near other construction sites where inspectors would be traveling to/from.

If you are going to take on the extra work required by an LLC, make sure you have a valid reason to do so.An LLC is useful for two things: anonymity and legal protection.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

I think we've already connected via DM but I always love seeing more folks get started in Detroit.I'm planning to get out there at least once more this year.

I found 80 units / $5M / 95% occupancy / 6.11% cap (claim) / $305K NOI / also included in the listing is comps stating we can get an extra $200+/ month.