., constructive receipt doctrine, effective control over nominal 3rd party relationships, lack of genuine risk bearing and compliance with transactional terms, etc.).

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

You may not occupy your apartment without electric service except during brief interruptions beyond your control.

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

Understand Proposition 13 for property tax benefits, local transfer taxes, and strict tenant and rent control laws.

You lose control of the property.

One that can send a message with the seller information included in the message (Seller Name, Property etc) There are many platforms such as REIreply , Batchleads, Launch Control , Smarter Contacts , Lead Sherpa etc.

This method gives you more control and is often a faster way to build wealth.Forcing appreciation allows you to create value rather than waiting and hoping for the market to rise.

@Henry Clark When counting units and sizes in step 1, should climate controlled units be excluded if someone was to only target the non climate controlled drive up market?

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.