One of the biggest challenges for everyone involved is being on the same page about the actual time required for maintenance.DIY landlords rarely properly track their time when it comes to property management in general - tracking their true time invested in maintenance is where they perform the worst.Investors that hire PMCs are rarely any better at understanding the true amount of time maintenance takes.

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.

Agree with @Jake Baker—real estate is very balance-sheet heavy, so working with a bookkeeper who truly understands a balance sheet, the industry, and how to structure QBO properly will save you a ton of headaches down the road.

If you have experience or resources to share for navigating deals like this, I’d love to hear from you!"

There are fees associated with going to Real Estate school, obtaining your license, joining the board and MLS for your area, getting proper E&O insurance and so forth. 

Happy to serve as a resource if you have any questions about the local market.

Proper underwriting is important.  

You won't know everything you'll need to up front, but if you surround yourself with resources and tools, you'll find the answers you need when you need them.You're doing the right thing by building your network now, attending meetups and posting here! 

If you’re open to learning more, I’m happy to share resources or insights from my own investing experience there.

BP is a great resource for connecting with lenders.