Mention a payment schedule that reflects project progress and key milestones, such as rough inspections passed or drywall completed.

Instead, there should be dollar amounts assigned to specific events, i.e. demolition complete with full haul off, floors broom cleaned, no nails left in studs or subfloors $1,500.Plumbing rough in complete and rough in inspection passed: $4000Final plumbing completed $5000I am clearly making up dollar amounts, but look for these types of bids on large projects.  

makes sense. so i actually did a 2-1 buydown FHA, i have a 800 credit score and locked in a 5.875% in today's market which is pretty damn good IMO... so the first year ill be at a 3.875% with about a $2350 monthly payment including prop tax/pmi/morg insurance/home owners insurance. lease is locked in for a year at $1400 a month which makes me only have to pocket roughly $1000. the way i see it, its cheaper than rent or mortgages in today's world!...

After a rough first year where I lost money for 8 months followed by another 4 months of learning how to self manage remotely, I had a great 13th-25th months where we have kept the placed booked, kept it profitable, and largely reinvested into the property.Here is the question though-  to buy the first property, my wife and I used a HELOC on our primary and used that for the downpayment on a new property,  for the furniture, appliances, etc, and all of the other little costs that go into getting going.  

We still owe roughly $900K on a 3% mortgage.We’re planning to retire abroad and are weighing two options:1.Sell the home – I already have a buyer lined up, so this would be a straightforward exit.2.Rent it out long-term (furnished) – While I don’t think the rent will fully cover the mortgage, it might come close.

The way this deal is structured it is roughly $1M below market value given current market trends.

so you can get a rough idea of what something might rent for from the tools, but then if you know an experienced PM or agent, you can say "my property is different in these ways, how much do you think that's going to impact rent?"

To me it seems the properties will be in rough areas which has higher turnover costs, barely any appreciation and a head ache.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It's like a rough draft or an assistant, not you.