Being a brand new unit you have rehabbed you might have to get her out rather than potentially ruin the whole unit by an act of her negligence.

It can also help cover HELOC payments if you find a property with solid equity potential.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I’m currently targeting properties in the $200K–$500K range, depending on the location and potential cash flow.

Consider connecting with local REI meetups, hospitality groups, or even online forums like this one to find like-minded investors.You could also pitch your successful track record to potential equity partners.

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

I am from some of the worst areas in Detroit and have since moved outside of the areas that would be considered “unsafe” but because I am from Detroit I am familiar with areas that are redeveloping and have great growth potential; lots of new construction, townhomes even, and lots of land.

I am currently carrying hazard insurance.

Since this is my first project, I’m very open to any advice or suggestions—especially regarding potential obstacles I might not have considered.

Waiting until the 1-year period ends avoids potential loan issues and simplifies things.