Consulting a tax professional now can help structure ownership and financing efficiently, ensuring you take full advantage of deductions, depreciation, and potential tax-saving strategies like 1031 exchanges in the future.This post does not create a CPA-Client relationship.

The calculation uses the following formula: Total Rent Potential x 75% ≥ PITI (plus HOA if any). 

Then, if you like some of the comments from a user, you can connect with them directly and perhaps do a 1:1 discussion and potentially discuss what you want to do in the future.

It is still a seller's market in many geographic locations, so you can ask potential buyers for an extended closing period and/or with options to extend the closing period. 

This amount provides a reasonable safeguard against potential claims if something goes wrong, like an accident or damage to the property caused by the tenant. 

Budget between 300K and 400K.Any areas that have the potential for a good cash flow?

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

In our largest listing, we have a triplex with a total of 11 beds and 10 baths with each bedroom set up to be potentially rented by the room (electronic lock on each bedroom door, and most with a private bathroom).

I focus solely on Detroit proper because, in my experience, the rent-to-price ratios, opportunities for value-add projects, and overall market potential are much stronger there.That said, Detroit is a nuanced market.

All major flippers in town have heavily compressed ARV to accommodate for the potential of the downward slide to continue.