It took me 11 years, 25 properties, and 76 doors just to replace my income.

The original post leaves the door open for a challenge by the IRS, so the safe harbor of holding it for investment for two full years is the safer option.  

Hi Lee, I’ve been investing in Memphis and Detroit the past few years (scaled to 9 doors now) and I feel like both markets are good for landlords and also great markets to continue to build your portfolio.

Doing so usually cracks the walls and can make door jambs out of alignment.

Developing and reinforcing habits I have found to always be a key driver and formula for success.

I see it advertised all the time about how these companies are able to generate leads and allow you to sit in the driver seat while they do all the hard work. 

Non-renewal notice sent today and posted on their door, allowing for them to leave anytime between Feb 1 and March 31 with a refund of their rent on a per diem basis (if they've paid for that month). 

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.

Other risks, the contractor walking off the job, a storm hitting and delaying the project for weeks, someone breaking into the home and stealing stuff (which happened just the other day to a client of mine), a squatter, or drunk driver driving into the house (happened a lot at my old job as a firefighter lol).

I would protect myself and cut my losses so I was not looking over my shoulder or getting high blood pressure every time I heard a knock on the door (hoping it is not the FBI showing up to ask you some questions).