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 said, even with photos, comping homes in Detroit proper is extremely difficult.

If the tenants don't care for the pool properly, it could cost you thousands to fix.

Proper underwriting - this includes an appraisal, loan app and full underwriting to comply with CFPB regulations.2.

Hardly anyone can prep properly, mask or dropcloth properly, cut in around trim and windows, get even coverage, etc. 

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

However, I am unsure on how to go about finding the proper handyman/maintenance guy/management team to help run any out-of-state investments I make.

It sounds like an incredible resource, for $200 having a fully designed materials and fixtures schedule to pair with a labor only GC or a GC that can work well with a prescriptive materials schedule. https://ivoryhome.co/predesigned-packages/Just curious how other people’s experience has been.

Market timing, properly acquired property, personal capital available How did you find this deal and how did you negotiate it?

Still up to me to properly utilize it and get the deals contracted.