My experience in Massachusetts, where it took nearly a year to evict a non-paying tenant, has made me more selective about the locations I invest in.I am looking forward to learning and sharing insights with this community! 

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.

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.

It is often the investor who failed to do their proper due diligence, failed to be patient and ultimately didn't ask the tough questions they need to ask that pays for those short cuts.  

Proper time tracking and logs are critical for demonstrating compliance with this rule.I've only seen one person with a W-2 qualify for reps, and that was from a tax court case where people had to come in in person and attest to his hard work.

There are so many options for LVP now, from lower priced to higher.Yeah, that's not a proper install, you'll have problems.

You must give proper notice before each showing, you must give the renters the opportunity to buy the house first, and the new owner will have to honor their lease if they intend to stay.

Then, both needed about $5,000-$10,000 each in repairs and cleanup.Even with low rents in those areas, renters struggle to pay $995/month on one property and $1,095/month on another.

@Juan PerezCongratulations on paying off your first home and transitioning it into an investment property!

Quote from @Mario MoralesMorales: what if he got a HELOC, used the funds to get a property, then cashout-refi the new property and pay off the heloc?