Owners were charged an assessment (several thousand dollars) in 2023 to put into reserves, as per the new rules after the Surfside collapse.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

It's not a 70% rule deal.  

My family has had rentals almost 50 years.  

Just how important is this “rule”.  

With our structure, the development company owns about 45% of the equity when complete, and I own 50% of our company.So it will be about 22%

My wife is a Top 50 Realtor who works with investors.

So, if $100/sq.ft is the starting point, they might use $35-50 for the adjustment for the ground floor.

I've become interested in finding an individual who can serve as a business partner (doesn't have to be 50/50, in fact wouldn’t want that), but a business relationships that would span across the entire business and someone who would share some of the workload, guarantor requirement and capital contribution and capital raising responsibilities, all of which currently falls on me.

In addition, due to the 2 of 5 year rule there often is no need.  2) you cannot 1031 a property that has not been put into service to be an investment property 3) you cannot 1031 a flip.