And, Due to the run up in home values over the past few years, presumably those homeowners have a nice bit of equity that they’re sitting on and would likely want to be compensated for. Am

Also, not sure if it is different for Ames area MLS agents but all DMAAR agents have a free subscription to forewarn so if you used an agent to buy the place they can run tenants for you free of charge!

Thanks for any feedback from the foram.

I still believe though it will be perhaps tough to improve values with only PM implementing business plans and maybe 1x a month conference calls for AM.   

My search for a Real Estate CRM with a strong follow up system built in for AMs to between track their follow up continues...hopefully this helps your comparison.

At this point, negative $22.00 a month seems less costly than taking a multi-thousand dollar hit by selling it for signficanly less than what I bought it for.  Am

In your long term numbers, I would put a minor decline(-3-0%) in rents and appreciation for Detroit, minor to flat(0-3%) appreciation for Cleveland, minor appreciation(2-3%) for Ames, and minor to average appreciation(2-5%) in for Birmingham.  

I always understood that depreciation is an expense that each investor will benefit from whether they purchase a $1 million house in Beverly Hills or a $10k house in war zone, so I don't it's something that an investor needs to strategize for. Am

I did this sort of thing for am airbnb.id reccomend you err on the side of strict at the cost of possible tenants.its better if you are happy than maxmizing cashflow.

You purchase a bond for am amount set by the state, so if the owner comes back... they are assured of some value if you blew the notices etc... turn all that into the state and they give you the title... not every state is the same... some require a public auction... or something else that is a variation of these steps...