That’s funny to me they compare a home that’s taking on rain from the outside inside, basements full of water all the windows broken, everything is wet and has to be re paired.

The median home price in Milwaukee went up 8.2% in 2024 - and I had to do nothing but wait, compared to a 4 month major construction job.So yeah: BRR(hold) and maybe refinace at some point if/when rates get lower

Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

As you begin your REI journey here is one tip I have for you:Use this website as you are trying to narrow down the places you want to invest in. https://www.areavibes.com/Its awesome because it gives you a "total livability score" & you can compare different zip codes & streets to others. 

@Philip Beckwith typically in Michigan, you can only do a tax appeal in February.The instructions will be on the back of your winter tax bill.You will need to have great comparables to challenge the City Assessor's valuation.

A lot more important compared to newer construction homes where you don't have to deal with certain things when it comes to either of those.Many other nuances but those are just a few that come to mind.

What are the comparables in your market doing at your expected price point?

Property prices are lower compared to larger cities, offering the potential for higher returns, while the demand for rentals remains steady thanks to a large student population and growing workforce.

I agree with @Michael Baum, are they true comparables? 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.