Take ownership of your mistake and learn to do the proper due diligence recommended above😊

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.

Insurance is going to protect you financially from lawsuits, damages, total losses, and other scenarios we can't even begin to imagine until it actually happens.You'll want to have a broker you can work with and trust that will make sure you're properly protected in the event of a loss.

Our biggest problem is getting her out so we can do a proper rehab 60 days of dead dime waiting for her to vacate is not Ideal obviously. 

Everyone says to find properties and build a buyer's list, but neither matter if you can't calculate the repair costs and also get access to a friend or colleague who has MLS so you can do a proper and real ARV (the other part where all wholesalers fail).

It falls short of the 1% rule which with current rates is not sufficient in most markets to have achieved real cash flow after properly allocating for sustained expenses. 

Section 8 tenants can be fantastic renters if screened properly.

To navigate the nuance in the laws properly for compliance and to accurately structure our LLC, I am looking to consult with an attorney who knows immigration + business + tax laws. 

You might also want to look into supplemental insurance for future stays, like Proper Insurance or Safely, to cover situations where Airbnb’s support falls short.I'd be happy to help more.

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.