I’m also in the process of finalizing my business plan and setting up my LLC. 

He asked me to fix it up and sell it, and then he'd let me keep the profit.

you can't really micromanage tenants.All you can do is create systems with some flexibility.Again, if you read how we charge our Processing Fees, they encourage the behavior we want, while discouraging (via fees) the behavior we do not want. 

He prioritizes deals with substantial margins, mitigating rate increases, and actively manages rehab costs to maximize profitability by being heavily involved in the process and GCing his own projects.

That's an average of 17% annually over that time.The City of Detroit has not only outperformed every city in the Metro Detroit area, its outperformed every city in the USA from 2014-2024:Let that sink in for a minute ... you'll probably need more time than that to process this!

.: I'm very new to this and would love to get your thoughts on this and are there any downsides to the process?

The most successful loans are those that do not procrastinate and get the appraisers In ASAP so you can get over any unexpected bump in the underwriting process.

The pitfall potentials are many, and most speak back to neglect in process.

I assume there is zero or almost zero appreciation and that’s the reason you aren’t selling tax free?

would you rent out your property to a problematic tenant who has a good rental history which means always pays on time with a good credit score. i'm in the process of renting out my house