These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

To save those costs, you might want to stick to some year build and older, for example, if you cannot do inspections on the properties that you are buying due to off-market deals or something else that is hindering you (all sellers I buy from do not want anyone in the home till we close).

We currently work with many clients who do Cost Segs and using that STR loophole!

@Preet Oberoi Purchasing a short-term rental (STR) or tiny home to offset W-2 income with depreciation can be effective if structured correctly.

I was a student they offered to sponsor a deal for and it has cost me everything, literally. 

So an identical neighborhood (income, crime, school quality, etc.) can cost you as much as a $100k less on the South side simply because your neighbors are brown or black as opposed to white.this right here is the gem advice.  

Specifically, I’d appreciate:•Wholesale contracts: Recommendations for templates or tips on using contracts effectively with sellers and buyers.

@Sebastian NadalI've used Zillow Rental Manager to screen my tenants and have found it effective.

https://logicalpm.com/new-michigan-section-8-laws-what-can-l...As the article points out, these sorts of laws often result in the opposite of the intended effect! 

2.What are the best and most cost-effective solutions for managing this potential long-term issue?