If the lease was not provided during due diligence, then this one is on you and your agent, which should have been stipulated within the purchase and sale agreement.

Purchase price: $187,000 Cash invested: $15,000 Sale price: $259,000 I got tired of moving place to place and worrying about finding roommate, security deposits and not having enough money to deal with maintaining someone elses home.

Purchase price: $253,000 Cash invested: $130,000 Rural hobby farm on 4 acres.

Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 How did you find this deal and how did you negotiate it?

Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 3 /1 894 sqft What made you interested in investing in this type of deal?

Then an appraisal works to my benefit and the quality of the property would be very close (as I said the property I purchased had relatively cosmetic renovations such as painted cabinets).

At Little Bear Creek
Properties, we specialize in developing large tracts of land into individual
lots for home builders in the Raleigh, NC area. However, we often face
challenges in sourcing suitable properties th...

Account Closed first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Purchase price: $187,000 Cash invested: $15,000 Sale price: $259,000 I got tired of moving place to place and worrying about finding roommate, security deposits and not having enough money to deal with maintaining someone elses home.

Some towns require a residential parking permit (sometimes on specific streets only within that same town) - you need to know what those requirements are and how feasible it will be.