Since you’re based in NY, Detroit is just a short flight away, making it feasible to visit and get a feel for the market and the team you’d be working with.That said, I’ve worked with plenty of investors who have never actually visited and still built successful portfolios—it really comes down to having the right boots on the ground.

Bigger Pockets is a great place to learn and connect with fellow investors.I’m an investor based out of Columbus, OH.

@Daniel Baker I would say a lot of it is based on their training or their resources that they utilize to complete your taxes.

Real estate is not my of my knowledge base at all but I want to start working on building passive income now (I’m 44). 

Hi Erica, what I've notice is that high-quality (high-priced) washer and dryers don't out perform other based price models in rentals. 

People were so quick to say he was way off base.   

This allocation should be based on the fair market value of each component, typically determined through an appraisal or the values agreed upon in the purchase agreement.

Then based on purchase price and escrow I back into how much money I would need to put down to reach my cashflow goal. 

As to your point about confusion in the future, it's our policy to leave the conversation and thread open and available for anyone to read, they can gather all of the information and make an informed decision for themselves based on ALL the information provided.

We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.We think it could rent for $3,750 - $4,000 per month based on local comps.