The last lender I’ve tried to get a pre-approval had a, imo, patronizing response saying,”Although lots of people talk on social media about buying a three or four unit property with only 3.5% down in practice it almost never works.”All lenders who I’ve tried to give a pre-approval for has tried to sway me to switch to a 5% conventional instead.

I've started, grown & sold 4 companies over the last 15 years (two PE exits).

Hopefully the software has been improved in the last year. 

Once you have figured out the first 2, the last questions will fall into place.

I am just starting out and have 1 STR.Would love hear the pros/cons that you took into consideration when deciding how you want to manage your STR.Self managing STR properties, from afar, while maintaining other employment, is only a possibility because of the new technology made available in the last 10 - 15 years.  

But if you put in the effort, Detroit can be incredibly rewarding.Over the last several years, the city has been on a steady upswing: population growth, major corporate investments, and increasing demand for housing are all positive indicators.

I've only evicted a tenant through the court system three times in the last ten years, but I remove about a dozen tenants every year outside of the court system, all legally.Any tenant can move out in two weeks.

In that regard, I can guess estimate if they're selling 400K more (after holding for two years), with the kind of remodelling that they make ( lets say 150K), I guess they make 200K net profit.The software is good for "flipping intel" at the very least.I used it for the last three purchase that I had.

One time we bought a bulk amount of local fudge and taffy that lasted a while. 

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.