@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Hey Elizabeth - I'd factor in about $10k to get a padsplit up and running when it comes to furnishing which would include washer / dryer, additional fridge, bedding/desks, common area furnishings if you want to offer a little better experience.I'm only familiar with ATL - I think accounting for 1 move in / 1 move out per month is a good conservative assumption here.$8kish / year or so on routine and reactive maintenance combined which should include your cleanings, lawn care, maintenance calls ect. 12% per month of gross rents should be a good estimate if you want to look at it like that!

I was under the assumption I could pull a $100K+/- HELOC out on my current rental, and show the lender I will be using that as the down payment for the 6 plex.

I would heavily go against trends and assumptions, it's just now how markets behave. 

Do you get a contractor in before making an offer/after, get an estimate on the work and time and then deduct the lost rent (making an assumption on what you can rent it for) from your overall budget?

This is under the assumption that these closing companies would like to get these done by the EOY for their annual numbers.

I'm just gradually deleveraging, this next time by likely buying all in cash, and continuing to not lever my properties until cap rates are lower than interest rates... unless I can get cheap and low leverage debt through assumption.

This can certainly be done but some of the assumptions here need to be tweaked.

I am not really a real estate finance guy - I am an equity research finance guy, but I was under the assumption 7% mortgage rate was average.

I would make an assumption your local bank would gladly get you an IO line after as well.