In decades past, carriers were allowing people to carrier lower limits of insurance on their properties. 

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.

I prefer to stay further from the coast and hopefully further from major storm/flooding events (potentially lower insurance costs).  

A $45 application fee will apply.Income: Verified monthly income must be at least three times the rent (minimum $4,200 combined).Credit Score: A credit score of 650 or higher is required.Eviction History: No prior evictions are permitted.Should I lower it to a credit score of 600 and 2.5 times the rent? 

Going direct saves you and the seller money, giving you a lower cost to entry which helps all your numbers, but you have to put in the extra work to find that deal.

Here's a breakdown to consider:Cleveland: @Zeke Liston You're right, Cleveland often boasts lower purchase prices, making entry easier.

In this scenario, the higher pref and lower splits only come from the GP side.  

There are plenty out there with fair rates and lower fees.

The price was lower than anyone else offered.

The lower the score, the higher the risk and the more we charge for a deposit.