Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

In its first year, the rental only earned enough to cover half the mortgage.

This leaves room for profit and covers unexpected expenses after fixing the property.

Can anyone recommend a good property manager that covers Modesto, CA? 

@Bennie Smith we've got a map at our website that we spent quite a bit on, to help investors understand what Detroit Neighborhoods they may want to invest in.DM us to discuss more as Moderators may delete this thread if we cover too much here.

Insurance was way more expensive this time—which I've heard is a nation-wide phenomenon—and it's the first time since the NAR settlement that we've purchased, so we had to cover part of our agent's compensation.

“Courses” are often hype pieces that promote all of the good and underreport the bad.

It may be hard to find unbiased advice on account of that.To me, it seems that his/their core competency is promotion and fund raising.

Many have pulled out of insuring multifamily properties or only cover up to 4-unit buildings.While Allstate doesn’t have a unit cap, they do cap total coverage at $750K on a landlord policy—which is why I’m exploring options for supplemental coverage.The carrier raised my rate by ~86% on all three properties under this policy.

@Elaine Ericson ugh - yes insurance would have covered this but without it, not much you can do.