With that said, we have decided to buckle down and focus on paying off our outstanding debt and saving up cash for the down payment on our first rental unit.

Your credit report will show your payment history and outstanding liabilities.Commercial loans may ask for a personal financial statement.  

Checklist: Here’s a quick checklist to get you started:Get a home inspection (optional but recommended)Fix any outstanding repairs or issuesCreate or customize your lease agreement (covering pool/fireplace)Set up tenant screening processesTake detailed photos of the propertySecure proper insurance (consider rental-specific policies)Establish a move-in/move-out inspection processClarify utility responsibilities in the leaseConsider a property manager if you prefer hands-off managementDon’t worry, you're on the right track by doing your due diligence.

Room to build, highway connections, influx of opportunity.

I use the credit rating to show me late payment history and outstanding debt. 

✅ Low operating costs✅ Low crime rate✅ Low risk of a natural disaster✅ Sufficient population to have economic stability, major highways, and a major airport.

Columbus has spent 1.4 billion just on downtown highway development as the city prepares for the growth.

(At least easily) with any taxes outstanding.

@Atul Mohlajee not sure who your attorney is, but three of our attorneys approved our automatically renewing lease that requires tenant to give proper Notice so it does NOT auto-renewal.Michigan law also allows any length of Notice requirement, ours is 60 days.That aside, a judge can rule however they want, forcing the losing side to go through an expensive appeal process.Regarding the 1.5 SD, they are legally allowed to deduct any damages, then apply the rest to outstanding rent.My opinion is that the PMC should only be able to charge:1) Rent + lease utilities until a replacement tenant is found (Michigan statute)2) Whatever the lease contract states

There is a neighborhood right off highway 50 heading downtown that is Lyons township so it has an LG mailing address, is located in what one would consider LG, but is not subject to the rules of the city.