And I'd argue the average rents can be increased nearly 30% based on the current FMRs in the zip code.

I am thinking to switch to online rent collection from receiving checks in the mail, but worried that receiving 1099k will increase the complexity during tax filing time.

If they don't, the document says their consequence is that they will automatically convert to a month-to-month rental on [DATE] with a 25% increase to their rent.

You can add different ways to reach out to improve your conversion for owners you are hitting or you can increase the amount you are sending. 

The fix-up and increased value will not matter to the IRS as long as you sell within a reasonable time frame of the house passing into the estate.

.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

After completing renovations, the estimated appraised value has increased to $370,000.

But if you put in the effort, Detroit can be incredibly rewarding.Over the last several years, the city has been on a steady upswing: population growth, major corporate investments, and increasing demand for housing are all positive indicators.

DM us if you'd like more info on the Detroit market - which increased another 20% in 2024!

The secondary goal is to increase rental income down the road.