Long-Term Holds: Not every distressed property is suitable for a quick flip.

While I don't expect another 2008 size wave, I do see a large hold back of inventory coming to market. 

It’s good to budget for unforeseen expenses.Regarding PMI, it’s worth discussing directly with your loan servicer since many lenders require holding the property for a period or reaching specific equity thresholds before removal.If market rents are $2,200–$2,500, hiring a property manager could help you optimize rent while taking the burden of tenant screening off your plate.

-Build a strong network in Detroit of real humans over a period of months, buy a better deal, hold it for 10+ years, weather early storms:  better chance for success.Even on that latter deal though, are you going to cash flow in month 1 or year 1 or even year 5? 

Investment Info:Condo buy & hold investment.

With that said, the income can still offset the cost of holding the property as a long-term investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

(August 2022)Single-family residence buy & hold investment.Current Value Estimate: $410,000 Purchase price: $345,000 Cash invested: $5,000

Are you leaning toward a specific strategy like buy-and-holds, flips, or house hacking?

I’d also love market suggestions and ideas regarding how to connect with others in the REI space outside of the events that BP holds.