@Chris Seveney The types of leads I'm targeting are absentee owners, vacant properties, pre-foreclosures, tax delinquencies, and probates. 

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

@William TaylorMichigan has some of the most complicated property taxes in the USA.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

and that was owner occ.. todays rates are pretty normal actually. what you can do if you want though is find a really good HML and let them place a loan for you making 10 to 12% while your wait for things to change to a situation that you feel you want to move forward be more net return than buying a rental thats for sure. of course no tax bene's but there really is not that much tax benefit on one rental.. so just some alternatives. 

I assume they collect a proration every month for property tax?

The property tax is higher than other markets, but generally, the numbers still work. 

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

I am about to graduate college in May 2025, and will be making about $120k (pre tax) in my full time job postgrad (Washington DC area).

After collecting tenant pass-throughs for the year, do you pay the property taxes at the end of the year or the beginning of the next year?