Account Closed first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------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?

When buying at auction you will have zero ability to sue (and win) an auction site if information is not correct. 

Unless you're in a Class A Neighborhood like Palmer Woods, Indian Village, Sherwood, etc,. the additional rent probably won't support the cost to build:(More profitable to take the build funds and buy another property.DM us if you'd like to discuss more...

I’d recommend focusing on building connections in Denver, exploring local markets, and considering strategies like house hacking or buy-and-hold investments to help you reach your goal of becoming a millionaire by 2027.Good luck!

Brandon,Check out Indiana & Ohio for states that you can buy 2-3 for that amount of liquid reserves. 

Just focusing on the passive income you want to achieve will leave you chasing cash flow which will have you buying properties in worse areas with harder tenancies that seem to cash flow better, but will have large cap ex.Any time someone asks a question about where to invest and it can be anywhere, they aren't ready to invest and are opening themselves up to every pitch in the world on an area.

Cash on cash describes how much cash a rental property is putting in your pocket on an annual basis divided by the cash you took out of your pocket to buy it. 

Investment Info:Large multi-family (5+ units) buy & hold investment in West Allis.

What capital do you have available now to buy or are you only looking for seller financing?

We generally buy the property ourselves because that's what our marketing says we intend to do.