that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

However to save money when she had the house built, she left the basement unfinished--it is just studs, insulation, and windows/doors, plus plumbing in the foundation.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

It was the tail end of high season and while I knew I could get a higher ADR on my own (I own the unit next door and know the market very well), I would have had to make some changes before listing it myself to do better and in this case, time was money.2.  

One of the biggest challenges is keeping the bathroom as carefree as possible.

I know depending on where an investor is in their fix and flip journey and the market this will vary, but Im curious because I feel like this is important when it comes to a good deal since some investors might not mind making less to have more doors. 

Condition of foundation/ roof/ gutters, soffit, fascia/ windows/ hvac/ plumbing/ electrical/ kitchens/ bathrooms/ floors/ paint/ garage (roof/doors/motor/siding).5. 

I had to replace doors, carpets, repaint.

I bought these two houses that were next door to each other with a partner using hard money (3pts, 13% interest, and 1% extension fee every 3 months after the initial 6 month term).