Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 How did you find this deal and how did you negotiate it?

Seller Financing OfferPurchase Terms1. Purchase Price: $215,0002. Down Payment: 20% of the purchase price, equal to $43,0003. Financed Loan Amount: $172,0004. Interest Rate: 6.5% per annum (fixed)5. Initial Amortizati...

I stumbled upon Deal Machine as a tool to aid in the process.

I’d greatly appreciate any advice, tips, or insights you could share—especially if you’ve done something similar.

First-time homebuyer-level SFHs are such a sweet spot for liquidity and demand, especially when the market gets tight.Quick question—when you're doing the homework for a potential deal, what's your go-to checklist for deciding if it’s a flip or a hold?

However, I don’t yet have the funds for a down payment on another house, and I’m trying to figure out the best option for where to live while I rent the apartment.Do you have any recommendations for managing this transition or tips on finding a temporary place to stay?

It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals. 

Now, you need to figure out how to find deals and pay for them.

We certainly have found some deals that would reduce our living expenses compared to renting.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?