Me and my wife currently have a sonyma fha loan.I have no other dti except for my mortgage payment.

You have $190,000 in equity earring $7,200/year when there are no repairs and no vacancies.

With no lease or anything legit in place.

No thanks!   

I have had no problems and been very pleased with the relationship and work done by M&M.

Thanks for sharing your feedback on Stessa as I feel that not having a good response time from any entity is an issue for most automated systems with no strong back office support.  

There’s no single right answer to every situation, but the more you educate yourself and build your network, the more confident you'll become.Lastly, don’t hesitate to ask questions here, no matter how small they seem.

Go for rock roads and no water drain or septic systems.  

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.

To see how much a 1031 exchange will benefit you in a sale you must first calculate the performance of your current property.