Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

You will be going up against larger operators with bigger budgets and more experience. 

It's putting out lots of fires, managing finances like a hawk, keeping projects on time, in line and on budget, marketing the property & getting it through closing, and *then* doing it all over again - and that's if you're not doing any of the work yourself. 

It was certainly stressful to do a rehab loan (non-recourse) and refinance with non recourse loan and budget the renovations.

Even at that threshold budgets are tight. 3.

Very commonly the resident pays a portion of the rent so your rent increase will affect their budget and their lives. 

Your maintenance budget should be 10% * $24,000 = $2,400 Make the tenant happy!

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.

Typically its the behemoths with huge marketing budgets who do well with this.

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home I do want to also add that my banker who is the VP of lending and branch manager has been banking me for 30 years..WE have been through all he ups and downs including the GFC were I got almost totally wiped out financially..