If this property is near the beach or near downtown area, the appreciation potential could be extremely high and it can be easily over millions.

This seems crazy as the risk is different, the rules of what you can do with the cabin is different, and most importantly the price difference between cabins on land they own versus forest leased land is extreme.

But it's extremely common here for new folks to come on BP with broad stroke questions, without realizing the forum is a searchable database of scores of common questions with a plethora of answers already posted.Mike

They're extremely busy with all the inspections and permits they have to get done in the area.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Thank you so much for your insight, this was extremely helpful!

So, if you can dump 5k onto the HELOC early in the month, and pull that out progressively over the course of the month, you're saving 2,500 * (.04 / 12) = $8 per month (2,500 would be the average daily balance if you pulled the 5k out evenly over the month.)We did dozens of hypotheticals, and even the more extreme ones topped out at $10 per month.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Remember the purpose of a proforma is to determine if a deal pencils broadly, so getting extremely granular doesn't add anything useful.

However, I have helped a couple people with extremely basic home layouts when they were in the process of remodeling their home.