It took a bit to wrap my head around there being luxury homes intermingled with 5th wheels next door, etc., but their lots were like parks.

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.

Greatly increased lending capital by transitioning from a ‘blind pool” fund to a series LLC / syndication model where investors know the property lending deal before committing to any loan and can “pick and choose” whichever loans they do or do not want to participate in.  

Hi Meir, I haven't bought in Birmingham yet, but I do have 9 doors across Memphis and Detroit.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

The income includes things like late fees, a rented garage, and utilities that are billed back to the tenant. 

It was the tail end of high season and while I knew I could get a higher ADR on my own (I own the unit next door and know the market very well), I would have had to make some changes before listing it myself to do better and in this case, time was money.2.  

. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Your "backyard" is shared with 4 or 5 of your next door neighbors. 

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.