U have to understand the mind set of many people in these markets THEY PREFER to rent they dont want to own.. its not like someone on the Coasts in high priced markets where they have seen folk get wealthy just owning a few homes. and your not adding in Property tax and maintenance.. folks that are/were renters just dont have the same mind set when it comes to taking care of the property or the cash to do so.But until you try it and actually talk with those in the market there is no way of knowing that many of these folks simply prefer to be renters..

But, you'll need to get with an REI-savvy bookkeeper/firm to help you set it up since it's not an REI-specific software.

I know there is of course no set rule out there but just curious on folk's experiences.Also curious to know folk's thoughts on what the CONSERVATIVE median $/sq ft for the Los Feliz / Silverlake area on LA is.Thanks all!

And, just maybe you’ve purchased at a point where Detroit has hit its low, bottomed out, and is set to reverse trend and grow.  

We're fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

My LLC in this project is set up as an S-corp.Thank you for listening and any color would be greatly appreciated. 

We had a call set up for a Monday in December and by Friday we found the house we wanted to purchase through them. 

Start by reading Rich Dad Poor Dad and Set for Life to shift your mindset, and remember that your first deal or breakthrough networking moment will boost your confidence.

I have my mind set at getting a short term rental to offset my W2 income.

To set the stage, I'm owner of a short-term rental property in the Poconos in PA and we use a property management company for bookings, maintenance/cleaning, guest management, etc.This past weekend we had a guest booking but when the guests arrived Friday evening the house had no running water, though it had been running fine earlier in the day when the Property manager (PM) was at the house to give a final check and leave the welcome packet.