.#2  MINDSET:  Just like some people will NEVER become real estate investors regardless of time, money, related profession, - MOST people will never become real estate investors.   

Regards, ClarkI'm curious, @Zhenyang Jin, with a DSCR at 1.30x, what are you total operating expenses relative to your EGI (Rent after vacancy expenes)? 

While an LLC can offer liability protection and tax benefits, it’s not essential for a single property—personal liability insurance and an umbrella policy may suffice for now.

Overwhelmingly though, the weather and weather related things were enough to offset the negatives.So, I figure a much more interesting question would be Why do people live in New York City?

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.

Fred, something to look out for is if this depreciation clock resets with the new administration in office. 2025 it went to 40% but the benefit would obviously be much higher if it goes back up to 100%. 

I'm so excited to hear the Maximizing Your Tax Benefits session!

It will familiarize you with the basic terminology and benefits.

The rent-to-price ratios are strong, property values remain relatively affordable compared to many other cities, and the city has been seeing real economic and population growth.I invest in Detroit myself and have built a portfolio of 12 doors there.

A revocable trust offers excellent estate planning benefits but provides limited liability protection and no tax advantages, while irrevocable trusts provide stronger protection but less flexibility.