Purchase price: $460,000 Cash invested: $50,000 My wife and I purchased a duplex in November 2022, lived in it for a year, and now rent it out using a long-term hold strategy.

We plan to purchase a rehab property through our LLC.

Looking at purchasing one of these.

I have a feeling Brie Schmidt might see this, so thanks again for the incredible amount of help during that purchase and my beginning as an investor.Quick background: I work in tech (remote job) with a good W-2 income and have lived in the northside of Chicago for 17 years.

Most properties over there get snatched up really quick since they are in good school districts with low purchase prices and you don't need to do super nice finishes to get top of the market rent or ARV. 

Purchasing a property with "next to nothing" out of pocket means you would need to find an exceptional deal. 

Purchased a house at trustee sale.

It was purchased as a rental and been sitting for 5 years.

Market value is what a willing buyer will pay a willing seller for the property evidenced by the Purchase & Sale Agreement.To be fair, you didn't say any of those things, so this isn't meant to challenge you. 

Detroit has more to offer though:)Overall, your approach should be strategic and you should be targeting a specific Property Class (A, B, C, D).If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.