What do you think about investing in Detroit, such as buying a house, repairing it and renting it out?

I feel like marking up repairs is paying twice.

Adding the rehab money is standard if the property needs repairs.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

If we rent to own, they are OK, but we cant refinance because we don't have the deed.Are there any unique scenarios to help us get the property for little money out of pocket, we have the ability to have the deedSign a lease agreement with a purchase option that allows you to buy the property at an agreed price at the end of the lease term, consider establishing a partnership with the seller to jointly invest in property repairs and improvements.

It couldn't hurt to call a couple attorneys right away to see what they say in terms of cost and suggestions for dealing with this quickly.In terms of mitigating any legal issues with your tenant be sure you are documenting every conversation you have had with the HOA in terms of asking them to make the necessary repairs.

(Foundation, etc)4) Black mold, asbestos, lead paint, other other costly repairs. 5) It need significant cosmetic repairs where the purchase price just isn't worth it. 6) They may have an odd layout of the rooms. 7) Non-compliant septic.8) Trouble with permits or tenants9) Listing agent has a poor or incorrect listing.

Ideally LADWP will prioritize the infrastructure repairs and new service requests to these properties as getting power service in LA can be 6-24 months without project prioritization.

It's what you paid, minus the value of the land, plus what you spent on long term repairs (roof, furnace, etc.

I feel as-is, I can get around $120k after cleanup and some minor repairs.