At property value of $800k (my budget), the transfer tax will be $8400 alone.

Due diligence is key before you sign on the dotted lineBuild a network of a great property manager, lender and maintenance teamDepending on your budget, I usually would start with at least a duplex, triplex or quad.

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

Yes, with a simple 47 step approval setup for the ai "Entertainment Genie" we will go through your social media, your posts, e-mails, cc and bank accounts to let the ai decide for you!

My other recommendation is once you decide in a budget and a couple criteria get a really good realtor.

If the taxes are killing your cash flow, you'll need to either negotiate a lower purchase price to offset the tax burden or budget for some property improvements that could increase rental income and help balance things out.

If borrower has a $100K rehab budget but the lender has $50K draw minimums, borrower will require more cash to advance project than a loan that has lower or no minimum draw releases. 

Speaking of loans... how much $$$ do you have liquid, what's your budget, and what neighborhoods do you want to buy in?

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%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.

I've entertained in the past but usually the person bails and stops communicating during the process.