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.

@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?

You don't need a mortgage broker, just a reputable, competent direct lender that will ask the important questions upfront to properly screen your deal.

The challenge is knowing how to scope out the renovations properly and understand your construction costs. 

Third, the turnover / repair / eviction costs are not properly in the proforma. 

I have broken down 4 key benefits to a retirement account: 1) Compounding interest in the absence of taxation (particularly with a Roth IRA) 2) Ability to self-direct into alternative assets, like real estate, private real estate partnerships/syndications, crypto, gold & silver and other alternative investments. 3) Credit protection (see state specific laws), but generally inherent protections. 4) Upon death, if setup properly, probate avoidance 

BUTTTT there is sooooo mcuh garbage out there that you'll have to sift through to find the gold and then you have to learn it, put it in proper order, THENNNN take action. 

Consider different strategies like mid and short term rentals as I believe the Portland area would allow for success in both (although I have heard Portland proper is tough on STRs).Best of luck!

I've done plenty of deals without and agent, off market not even on the MLS but I'm one of those wholesalers that did things properly, had qualified buyers before even reaching out to sellers and strictly stuck with assignments.Biggest problem is so many "wholesalers" barely have the understand of a deed or what title insurance is so there's an immense amount of knowledge they need before hand which can just be provided to them by getting a license!

If your exchange is not done properly or your funds are not safe you are going to kick yourself for trying to save $500.