I'm in a team who does these deals and we have a team of "door knockers" who go back weekly till the auction, they file bankruptcy which only delays 3+/- months 100% chance that the lender will as that their mortgage is removed from the bankruptcy they file NOD yet again.   

This is a 4-bedroom, 2.5-bathroom single family house.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

MLS-listed deals are a bit harder to find, so investors here have had to get more creative in sourcing deals either through their own hustle (door-knocking, website, direct mail, driving for dollars) or finding good wholesalers to feed them deals. 

She will get a nice surprise next week when I show up at her door to (a) announce that I am her new property manager and (b) notify her that I will update her information with the collection agency she's been hiding from.Screen your applications, people!

A property manager may be a hard egg to crack but once cracked (built trust or relationship), they can open many doors since they can be your advocate and have access to many homes.this is the case with apartment complexes.   

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

It is zoned single family but since the previous owner is using it as a rooming house a few things look different that I am worried about the appraiser not passing:Outside doors for each room with locks.The only common area is the kitchen, no dining room, living room, etc.The rooms consist of 5 bedrooms, 1 kitchen, and 2 bathrooms.Each room has a bed and a small drawer which I am thinking of diassembling before the appraiser comes.Would I have a problem with this?

ya Open door capital struggles are well documented..