Welcome to Bigger Pockets Daniel!

@Robert Quiroz I think all of the factors you have listed might contribute.So I’m not going to comment on that but I am going to comment on an assumption you made.If 85% of rents are below market on deals you underwrite then those contract rents are probably THE market rent.You can’t just go based upon area median income to rent ratio.First off urban areas are oftentimes street by street, block by block.

Also Gary Swank brought up a great point about how the area can change drastically block by block, even on the same street.

If you get a proven operator that offers sightly less, it may still be a good idea to stick with someone who's been around the block for a while. 

I do like now though on our sig blocks we can put our website and then link to our projects but you know those could be fake to I could be faking all my projects.. :)

Go search the topic "Lifestyle Asset University" here on Bigger Pockets and you will see a longer thread with a lot of opinions (most are not members) but still worth a read as there are a half a dozen paid members from our group who have commented on that thread.We were formerly called Lifestyle Asset University, but I didn't realize that you couldn't use the word University in your company name here in Utah so we changed our name to Vodyssey. 

Managing properties remotely is definitely possible, but it’s a lot smoother when you have good contacts for maintenance, property management, and leasing.Another challenge I've faced is that Detroit is very block-by-block—you have to really understand the neighborhoods.

Hi Aaron, welcome to Bigger Pockets!

We were thinking about this now because it's hard to find good deals in our price range, so thought it might be easier to put it into a bigger deal but sounds like that's not such an option. 

In 2024, I noticed an increase in BP leads that have been high net worth investors reaching out wanting to 1031 into bigger properties.