Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

This will guide your deal criteria.

This document will guide you in the event of disagreements (which will eventually happen).

Make sure you get an experience realtor that can guide you through the leasing process, vette out any prospects, explain what your duties as a landlord are and what to expect, good bad and ugly.

. 😜2) Courtesy of your state government: A Practical Guide for Tenants & Landlords - Michigan Legislature

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Finish (find money i.e, renegotiate with lender, find a partner, HELOC etc.)Let your gut be guided by data and then move forward decisively! 

If they say no, we ask why, and occasionally, we can sway them if there had been a misunderstanding—for example, a lingering maintenance issue that hasn’t been addressed and they didn’t bother to call about.We don’t have time for a deep dive on lease renewals, but it’s definitely worth picking up a copy of Jeffrey Taylor’s The Landlord’s Survival Guide, which has all sorts of tips on getting tenants to renew.

See the PHA HQS Inspection Resource Guide for all the details.

I’d love to hear your insights to help guide newer investors like myself and others in the community.