If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Both are digital-first banks with minimal fees, and Mercury in particular offers free domestic and international wire transfers for most account holders.

Keep one mailing address and opt to receive digital notice to one same email account that you monitor.

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

You should be able to get a good feel for their knowledge and expertise through digital resources they provide (webinars, youtube videos, social content) Character - You need to believe they have your best in mind and they prioritize it.

Attractive digital marketing fliers, 3d tours, professional tours, rent specials, and competitive pricing all help too!

People can remotely access the homes using your digital lockboxes, if you have them.

The pay stubs can be hard copies or digital PDFs generated directly by your employer and sent via email; we cannot accept screen captures to verify income.Once your completed application materials have been received and it appears that you would meet our qualifying criteria, we would send you a link to perform a credit/criminal background check (this minor expense would be yours), and if those results come back acceptable, we would offer to proceed.

Fifteen percent IRR is possible, and single digit cash on cash is achievable. 

Best tip is to add digital locks to each bedroom door and make sure there is enough kitchen space for all parties.