I learned how to manage rental properties well with this property.

A great realtor can place a tenant for you and show you how to self management. 

Lesson learned: slow follow-ups and poor lead management can be expensive.I knew I had to change how I handled leads, so I started automating follow-ups—and the difference was huge.

With rehabs you want to know enough about how houses work to manage the tradespeople.

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.

@Ken Latchers how do you manage the security deposit?

Over the years, I managed 3 offices and a 12-person team, and I got tired of bloated CRMs with monthly fees.

Their messenger makes it easy to manage a large volume of conversations so with our volume 1 VA manages it full-time.

Property management vs. self-managing:Self-managing—at least in the beginning—can be invaluable.

Stormwater Management Easements and Covenants.11.