As mentioned, I ended up telling her she can finish out the remaining 5 months of her lease via Zelle, but with the expectation that we switch to Avail if she renews (and Avail will be required for all future leases).I wasn’t sure about the legality of forcing her to switch to Avail since it wasn’t mentioned in the original lease I inherited from the last landlord.

The only “good news” is you’re paying for last year’s shortage and thsi year’s taxes, or this year’s shortage and next year’s escrow account. 

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.

The last meetup only had a few people, and we discussed opening it to investors at large, what are your thoughts? 

The last thing you want to do is go through formal sale since you’ll lose the Prop 13 tax basis, which is likely a $20k/yr saving.

So first off I would like to tell you that I had no idea that appreciation would happen like it has over the last few years.

Over the last 10-12 years, the city’s been on a steady climb, and for good reason.

Lets you see if your amazing loan officer was a barista just 6 months ago  ;)Last, consider working with a broker instead of a small lender.

LOLi have raised half a billion $ ($500 million) through syndication over the last 22 years.  

With SFR, they appreciated at a national average of 3.8% from the last study that I read in 2024.