Hi Abhishek...Are you set on Detroit or are you open to other markets with a low barrier of entry, good job growth, good population growth, low property taxes, and a solid turnkey company with boots on the ground?

My interest is in the garage for storage.I'm talking to the realtor/owner who is out of town and bought it in a tax lein.

While there are many advantages like low property taxes, landlord friendly, strong appreciation it's not going to be as cheap as the Midwest and have the cash flow with 25% down.

Think about your taxes on Form 1065, specifically how your K-1s will look in the future.

Hi everyone,If you own rental property, it's essential to maximize your tax deductions.

You may have the 3 day option period there if that hasn't passed yet.My second thought is, in consultation with your agent, if you are willing to give up the earnest money, offer the inspection report, your bank appraisal, and be willing to release your earnest money. 

Always consult with your attorney before you rely on the above information.

Long term strategy is to hold until it makes sense to sell, and that might be after only 2 years so I can reap the benefits without getting killed in taxes.

Long term strategy is to hold until it makes sense to sell, and that might be after only 2 years so I can reap the benefits without getting killed in taxes.

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