I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Hi ALL,Can anyone recommend a easy to use property management tool that we can use, so far, we have 4 rentals and growing, We will like to have better control of the information and have a easy system for tenants to pay rent.As always, thank you for your input!!

Belize is super picky on financial transactions due to US drug traffic monetary controls.     3.   

Ask them if you deposit say $250k with them as MM or CD with them having control over it.  

If you add unit to your home, your home likely became rent controlled.  

You never want to build a business that is completely reliant upon another platform that you have no control over.

Kevin I’m not saying it’s a good or bad investment and this is nothing against your personally but at some point you will HAVE to fully dive in and fully understand the scope of your investment whether it’s turnkey or anything else if you are going to a chance at ‘controlling’ the outcome you are seeking.

Cannot control association fees3.

I guess my challenge right now is to define the strategy and balance all the factors, such as job and population growth (value increase), cashflow (demand & supply market, interest rate, property tax, maintenance cost), and risk control (insurance etc).