Older homes will typically have systems that are out of date - even if only partially. 

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

"-  Section 8 rentals typically follow a purchase and rehab project. 

The typical income from a free and clear rental would probably be $800-1500/month - and on a financed rental probably $300/month on a good day in today’s market.  

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

In my experience, a successful BRRRR typically comes down to two main things: finding a good deal and managing an efficient renovation.

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It's people who understand that it takes effort to become successful, typically from CA at this point, and have a way of showing those characteristics, do best.

This is typically the single biggest electricity draw in most homes.

We don't allow cancellations less than 14 days out, so typically if they book, they stay.