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.

If you’re still concerned, you could consider installing programmable thermostats or low-flow fixtures to help control costs without relying entirely on tenant behavior. 

A quality deal you have control (under contract, seller only wants to work with you, etc.)3.) 

The listing agent has already done all the work to streamline the sale on their end, set expectations and control the process.Anyone who has ever worked for 4 months on a FSBO and then the seller decided they are not going to sell after all, knows what I am talking about.

He may get stuck with rent control laws that prevent him from catching up later. 

@Matthew HoldenDo you have checkbook control or full custodial SDIRA?   

Offer the design team a piece of the equity OR pay a premium as incentive to keep to an established timeline (that is within their control). 

So although you have HOA dues, sometimes it isn't enough and you don't have control over that cost (if it goes up, special assessments, etc.).2.

So you're absolutely right from a PMS capability that some of the major players include Hospitable, Guesty, Lodgify, Ownerrez, etc. 

I'm a partner at Launch Control and a former Batch user.