Highly recommend (I require) collecting first month's rent prior to handing over keys.

Rental arbitrage isn’t common in my area ( high point North Carolina) but I was planning on starting in another state.

I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.

Most who respond recommend creative financing....seller financing, sub to etc. or using highly levered hard money debt. 

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.

When we present a Subto for investors to buy, it has to have enough meat on the bone, all said and done, that the investor will still have equity and the property will cash flow.For instance, I have one I'm working right now, that has a high entry, because the seller wants some cash out to himself, but even with that, the buyer will wind up with $50,000 in equity.

If you want to manage your own properties, I would highly recommend buying within an hour of your primary.

Population (20,000), that's why I joined bigger pocket hoping to expand my network.

I highly suggest working with an investor friendly agent so you don't buy in the wrong locations.I like the west side of Cleveland.

The market has a lot of strong points right now: affordable entry prices, great rent-to-price ratios, and high demand for rentals, especially in the Section 8 space.What’s even more exciting is the direction Detroit is heading.