@Augusta Owens here's some copy & paste info you won't find in a book:)-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

That it can impact your 5 star review more than what you can charge on a daily rate.

BUT.... but, but, but, also how a person manages will impact this.

Or it is a working class area with a lot of jobs that are likely to be heavily impacted by a recession.To understand these risks, unfortunately, takes experience.  

Already, it's pushed out-of-town investors to focus on student housing where GC has less of an impact.

If i were active though it could have a much bigger impact.

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

This is largely due to the fixed nature of ongoing maintenance costs, which become proportionally more impactful as the park size decreases, thereby inflating the expense ratio.

Definitely not doing the work myself so it sounds like resale value won't be impacted if I have a licensed person fix the issue and provide evidence/documentation that it was done correctly.

I agree that rates have naturally adjusted with the rise in the Fed rate, and it seems like the 10-14% range may become the new normal for a while.I’m curious—what’s your outlook on how this rate range will impact new investors entering the market?