A combination of extremely tough long term tenant protections and the economics of short term renting being a lot more attractive. 

The "Initial Filing" is extremely important to get this right the 1st time as there are limited safe harbors for mistakes to avoid the penalties.

Jerryll's team is very responsive and extremely helpful.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Your wanting to do high-risk via extreme leverage....via high risk OOS investing, committed to never being boots-on....... via high risk class c....... doing reno's to make habitable which is high risk at a level we should just call it EPIC risk..... 

If you do not have those it will extremely hard to ever sell it to someone who will require bank/lender financing or refinance it down the road if you want to pull out cash on the ARV or future equity.The other rule of thumb is that you buy it New and that it was never on another property or location, simple built onsite or trailered in from warehouse. 

And when it comes unraveled, implications CAN BE extreme, INCLUDING jail/prison time for it. 

Be extremely cautious when processing your next applicant, this one seemed doomed from the start.

I am extremely sad and not at all surprised to hear this.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!