Check their nightly rate, occupancy and amenities.That will give you a pretty good idea of need and profitability.

There’s a lot of construction, which could hurt both prices and vacancy rates.

If you're goal is a long term hold, you're almost certainly going to do well even with a market rate deal in any of those states.

@Ed Lopez our thoughts:1) $65 is average hourly rate for handyman in Metro Detroit.

@Keetaek Hong I have a lot of clients who are facing the same challenges but they understand the long game and that it's imperative to build a portfolio, With that lowered interest rate I mentioned you are looking at 30% down and including PM fees will typically have you around break even or barely positively cash flowing.

You should be able to get up to 80% LTV on a rate term refinance.

Conventional loan, 25% down at ~7% interest rate How did you add value to the deal?

The price points do make it hard to cash flow even with the lower interest rate subject tos. 

As you go on your real estate journeySomething I would recommend for you is this website. https://www.areavibes.com/Use this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below F

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?