I have about $300 on my credit cards (just finally paid them off for the most part, and have about $20,000 limit).My cash on hand is relatively light, but what my plan was was to find some single family homes in the north Detroit area (currently anywhere from $40-$60k and put about $15-20k tops into any repairs or fixes (not looking for total rehabs, mostly something I can do some small repairs here and there and paint, personally I am knowledgeable about renovating up until complex electric and plumbing).

As an individual looking for one off you will find it hard to find a title company that is going to do any serious work for free.Also there are a lot of time pay services that do put all this together for you.. 

Everything Ken said plus plaster walls, no insulation, higher electric bills, walls sweating when its humid in florida and the resident leaves front door open, damp smelly houses, Pealing paint, wood rot, old windows, crawl space under the home, bdrm and closet doors that don't close properly, electric locks that the old front door doesn't like as the door is not aligned correctly, Cyrstal knobs that fall off, old thermostats with 2 lines but my new thermostat needs 3 lines, critters in the fireplace....

I'll bet she's lying to you so far......and you'll need to carry a pistol when you go meet with the water thieves, people don't like having their water shut off.

Hello BP family!With the insane market, I’m looking to pivot to send letters to SF properties in Western New York. Does anyone have a letter template they are willing to share with me to send to property owners to sel...

Off market deal brought to me by my realtor.

They claim some great untapped off market stuff etc. https://connectedinvestors.com/software

Until you work out the bugs in your sysyems and procedures.Or, if you invest farther away, do a personal, physical (not Zoom) walkthrough of the property before you sign off on it.Surprises and out of state investments, don't make good bed fellows. 

Hey BP - we have a SFH that has been a LT rental (only 2yrs) but with same tenants, who are asking if we’d be willing to sell off market, in the next 90 days. 

You then have to stack your financing costs on top of that, as well as reserves for Maintenance and Capex.You could always start off offering the other side of your house as a STR and see how it goes.