Additionally, FEMA updated the local flood maps here in July 2024 and much of the area now requires flood insurance. 

Additionally, my husband lived there for six years, and the city feels like a second home to me.

With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.Good luck!

Additionally, involve a real estate attorney to ensure the transaction aligns with legal requirements and protects both parties’ interests.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

I heard that less than 20% down causes additional insurance fee? 

Is the portal that the landlord and tenants use an additional charge?

We look at lenders (so long as they lend in the asset class you are considering) as an additional line of due diligence (they deeply care about their money and they are likely more sophisticated than you are).

We're fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

Quote from @Zach Howard: Quote from @V.G Jason: Quote from @Zach Howard: @V.G JasonTo someone just starting out (only option of OOS) who can get access to 200k, but no additional financing at this time but an additional 50-100k max in reserve cash, where might you recommend they start - markets/property type/strategy?