I’ll definitely make that a priority as I build my team.I also appreciate your point about using different contractors based on the scope of work.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

The information provided is for general knowledge based on my experience and should not be considered tax or legal advice.

However, based on your timeline, it seems like your decision may have already been made.

Experiences will vary significantly based upon location.

Then based on purchase price and escrow I back into how much money I would need to put down to reach my cashflow goal. 

If its the business then asset based lenders may be interested.

To be honest in today’s market I’m not seeing nearly the amount of wiggle room in renegotiating a price based on repairs.

I’m based in Portland, Oregon, where residential investing seems challenging due to landlord-unfriendly policies and negative cash flow on higher-quality properties.

Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant.