It goes to your preference, of course, but whichever can produce the greatest ROI should be considered.There are many markets in Michigan, for example, where it is cheaper to buy an existing house and fix it up than it is to build new.That may not be the case where you are at or through the construction suppliers and contractors you may have access to.To Your Success!

@Aidan Jones  We host the largest REI group in the Lansing, MI area twice a month at our office.

@James Wise MICHIGAN UPDATE: new law went into effect January 2, that landlords can no longer discriminate on tenant income source.

I have experience handling this in Michigan with my short-term rental.

You could do worse and invest in Michigan. 

Michigan is a state where lenders will lend 100% of the rehab and 75% - 80% of the LTV. 

That is great info Sabrina Marie!

I have a rental property in Detroit that I am looking to get certified, and have tried following the process on the Detroit Housing Commission website (https://www.dhcmi.org/landlord-faqs), which says " To list your property with the Detroit Housing Commission (DHC), you can visit DHC’s Assisted Housing Division office located at 2211 Orleans, Detroit, Michigan 48207.

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.

BP COMMUNITY I’m Christopher Espinoza ,I'm based out of Long Beach, CA and I’m passionate about helping homeowners in Detroit, Mi.