If the tenant is from another state, a background check cost of up to $25 may also apply (sec. 704.085).It is unclear to me if I am actually in breach of this rule by charging the tenant more than the $25 limit, even though it is through a third party.

Since companies have a limited lifespan (10–18 years on average), cities must attract new businesses to maintain job opportunities.Factors Companies Consider:Low Operating Costs: States with lower property taxes and insurance costs.Low Crime Rates: High-crime cities deter businesses and tenants alike.Natural Disaster Risks: Avoid areas prone to disasters, as recovery can take years, impacting your rental income.City Size and InfrastructureFocus on cities with metro populations over 1 million.

So you have little control of performance, no mercy from your tenant pool, and a lot of risk in neighborhood.

Obviously the Detroit market can be pretty seasonable but a lot of this sounds like controllable things from a PM.

Since you can't control the sale price, you basically have a $4k cushion to your reno costs, or otherwise you lose money compared to the as-is scenario.

I wasn't skeptical at first because I control who I decide to rent my property to. 

I recommend learning your states laws and limitations around LLC's and working with some professionals in your area to help you determine your risk tolerance 

It’s great that you’re being proactive, especially as you scale up your real estate portfolio.You're right in noticing that higher W-2 income creates some barriers when it comes to offsetting taxes through real estate, especially due to passive activity loss limitations.

That's unusual and it would be very difficult to find a passive investment like that.Also direct control means I know exactly what's going on.

A) it controls my cost.