Hello, was wondering if anyone could refer a quality contractor for a quick rehab project on a rental unit.I am in the Canton, Plymouth, Westland, Livonia area.Thanks!

I am more on the metro-Detroit side of SE Michigan :)Brandon couldn't have put it any better.

@Brandon Hall From an accounting perspective yes that would be the "operations view," but from a lending and banking point of view the cash flow statement is the most important aside from the profit and loss statement since the earnings could be stored in current assets or accounts receivables and the turn time on converting that AR/asset into "cash," may be many days out.I guess if you're doing your P&L on a cash basis and this is only rental real estate then that could be used, however there are other deductions we add back that aren't typical that affect qualifying income such as .23 cents per business mileage (IRS rate for depreciation for bus. miles) claimed on line 44A of schedule C, home office use, we give the borrower back half of the SE tax since a normal wage earner would only have to pay half we try to put the SE borrower on the same playing field and more.

I have seen a court case where a taxpayer was denied the deduction because a bookcase filled with pleasure reading books was in the room.Another glitch with rental property is whether it qualifies as a "business" since it is per se passive.

I did however, want to see if investors had better luck using other marketing services (specifically, in the SE MI market).

I live in SE Portland and if you ever want to grab coffee I'm game.

The property is located off of SE. 126 Ave.

Still the resale value would make even $3,000. in legal fees profitable, however, since I don't intend to resell I'm keeping costs down by doing it myself, like many other legal matters I have done pro se. 

I've never been against HELOCs per se.

There isn't much in Cary for $150k, but a little over 200k will get you into the nicer town home areas (if you are patient).I have a town home in SE Raleigh getting ready to be listed for $105k that rents for $895/month.  1505 Oxleymare Court.