On top of that, the rent-to-price ratios in Detroit often outperform other markets, which can mean solid cash flow alongside appreciation potential as the city continues to grow.The key with Detroit is understanding the nuances of the market—it has a large footprint, and neighborhoods can vary drastically, even block by block.

From my understanding (not a lawyer), that ordinance has been lifted and there is not limit anymore.

- then you should be able to make a 15% work if you have solid credit

There is a solid argument of course for MF investing and scaling based on NOI.

I love talking about this stuff so much that my kids complain about it constantly, so I thought helping other people understand some of the general contours of the industry from a legal perspective would be a better outlet than lecturing teenagers for a fourth time about what a defeasance is!

With average rents in Charlotte hovering around $1,800 to $2,000, that means an average agent fee of just $190—if the management company even pays the showing fee.I understand that this may vary by market, but in mine, I don’t see agents being incentivized to work with renters.

I would say Dallas is a solid place to start right now.4) Once I've lived in the property for the obligatory year, is that typically long enough to refinance and use HELOC towards my next property? 

Welcome to BP.My biggest piece of advice is to understand risk premiums in real estate.

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?

Quote from @Rick Albert: I would talk to someone who understands this and explains the probability of success.