https://www.har.com/content/department/mlsHouston Real Estate Highlights in January, 2024:-Single-family home sales rose 9.0 percent year-over-year, the second increase in two years;-Days on Market (DOM) for single-family homes went from 60 to 58 days;-Total property sales rose 6.9 percent with 6,098 units sold;-Total dollar volume was up 11.9 percent to $2.3 billion;-The single-family median price rose 2.1 percent to $320,500;-The single-family average price rose 2.7 percent to $391,080, the first time that figure has been below $400,000 since last February; -Single-family home months of inventory registered a 3.3-months supply, up from 2.6 months a year earlier;-Townhome/condominium sales continue the declines that prevailed all through 2023, falling 4.0 percent, with the median price up 14.1 percent to $223,000 and the average price up 7.0 percent to $247,437.

WUCIOA replaces the Condominium Acts (both of them), the Homeowner Association Act and the Land Development Act but it ONLY impacts communities with CC&Rs that were recorded AFTER July 1, 2018.

Households are consolidating and that will hold rents down and vacancy up.

Both units in the same condominium complex. 

We have about $70k saved up, household income is close to $200k, credit score at 750+ both and we don't have a mortgage so I believe we have a decent chance of getting an approval should we pursue this.I just want to get an insight from seasoned investors here in Detroit area or suburbs.

In turn, you will be required to provide 30% of monthly gross adjusted household income (based on current HUD standards) towards your monthly rent to HOPE South Florida.

ensuring the condominium was properly created, the condo association has competent leadership & is properly funded, the condominium has strong declarations/rules/regulations that are enforced, etc. are important due diligence questions. 

Being so close to Manhattan, residential neighborhoods and condominiums with families were dealing with unruly tourists and transient tenancies (bachelor parties, etc.) sharing their common spaces and dividing interior walls.

While you may be able to make 200/door you probably lose that with lower appreciation.I would run some numbers on new purchases in Denver and one or two Midwest markets (using zip codes for household income to identify your b- neighborhoods) and see what makes sense.

So, since I do not make a passive income from the property, I can't normally write off any of my expenses (rental losses, hoa, etc.) from that property on my taxes cause my household income is too high.