So the fact you’re already thinking about using your sweat equity to add value is a great sign.Even though you found this deal on your own, a solid realtor can do more than just open doors for showings.

My partner went door knocking and negotiate on a cash deal What was the outcome?

It does save so much time, and you also get great advice on what to do or even watch out for.

While leasing is the front door to maintaining a property’s occupancy, renewing tenants is the back door.

A mortgage lender can help determine if refinancing or tapping into equity might allow you to acquire additional properties.Consider a 1031 Exchange: If you're open to selling a current property, a 1031 exchange can defer capital gains taxes while enabling you to upgrade to a larger or more profitable asset.

I feel like getting my foot in the door now with this one property would allow me to learn without being too overwhelmed.

Feel free to inquire about their staff qualifications if it's a larger organization.2.

If they can build a larger home and sell it for the same or more rather then building a couple small homes why do it?

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.

If the partner wants to get a bigger cut on future deals, they can save their money and buy into a larger percentage on the next deal.