This second property is in a MUCH improved neighborhood, which draws in a better class of tenant, it's professionally managed by a trusted company, and it's structurally sound with recent major improvements.WHAT'S NEXT??

A garbage disposal should be on a separate circuit, as they can draw a pretty decent Amp load.

Any people who have worked through the grant process in MI before who can weigh in here on other considerations? 

I got good at estimating renovation costs by making an initial estimate based on photos/walkthrough, drawing up a model like you see here, then once the project is finished, go to accounting, get the actual expense report for that property, and update the model.

I of course draw a generous salary as I am running the biz right, what $10m a year seems fair right, lol.     

A key consideration here is the refinance process.

In low end properties they dont make enough and they also take on considerably more risk.  

Maybe, but those would be super rare.2024-specific consideration: should you even try?

So take into consideration the holding costs of making no money for years into the process. 

@Jake Baker - That point is probably my biggest consideration.