In Michigan, we've found a collection attorney that can handle everything.

Consider going out of state, I've been in Lansing, MI since 2013. 

Other states you can look into are Indiana and Michigan. 

Quote from @Mary Smith: @Jeffrey Richard I recommend Innago.

. - Maintenance & Repair: 5% of total rent- Cap ex / utilities: 5% of total rent- Property management: 8~10% of total rent- Misc & reserve: 5% of total rentFull rent: 4800(rent) - 2600(PI) - 800(TI) - 1150(Expense) = $250/mOwner occupied: 3600(rent) - 2600(PI) - 800(TI) - 1150(Expense) = -$950/mOwner occupied & no PM: 3600(rent) - 2600(PI) - 800(TI) - 700(Expense) = -$400/m I thought it would be $0/m if owner occupied although $400/m for myfamily is low enough.

Things in Michigan are very different than California, I would guess. 

Quote from @Mary Smith: @Jenna Meditz We've been using Innago for years and we absolutely love their software.

This is largely all profit since we're doing the build all-cash and no plans to refi.You may not have STR options in Berkeley but could you run it as a mi-term rental?

Indiana Dunes up near Lake Michigan.

Hello @Mary june MartilloI've been contacted by dozens of investors looking to do conversions in NYC but very few actually pan out.