I've collected thousands in security deposit from my guests who've caused damage.

Successful collection rate on LTR is not even 15% on top of dealing with insane lawyers and social workers who believe that less fortunate people can hurt wealthier people.

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.

On 12/19/2024, we sold it for $99,000, securing a great return.

This could help secure a higher LTV while you build STR rental history.

At the very least you'll always know where you stand in any given situation, something few investors are secure about.  

Since they are responsible for maintaining the relationship with you after the transaction closes, this approach adds an extra layer of confidence and security to your investment. 

It takes a lot of energy to thoroughly vet a deal and a borrower to make sure financing is secure.

New tenant must go through complete vetting, sign the lease, pay security deposit and rent, and move in, prior to the referring tenant getting their $100.