that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Sellers often favor buyers who can make larger down payments, as it indicates stronger financial backing and reduces the risk of the deal falling through due to financing issues.Additionally, SFH properties are more accessible to a wider range of buyers, including first-time homebuyers and families, which can lead to less direct competition from institutional investors.

It’s still a worthy strategy to force cash flow that’s rare to find in SoCal, especially if you can reduce the cost of construction by doing a conversion/using an ADU grant or even buying a property with an existing ADU In general, even if the ADU valuation matches your cost including grants, they are usually not worth it in southern CA in single family zones. 

Also make sure to consider all the aspects you can including the tax differences. 

Future deals should include a 10-15% buffer for unexpected rehab costs.- You should consider some other lenders.

My cost basis for my properties are consistently off from my tax returns because Stessa will include everything in the basis even though it shouldn't be.  

I am getting to the point of wanting to back out due to the 27k combined Closing costs, not including down payment. seems like a I should look into finding a new loan officer.

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

Job included inside work of leveling floors, installing flooring, paint walls, kitchen cabinets, etc in both units, as well as lay a new driveway, fence the back yard, provide attic fans, and install electric to the crawlspace to add lights and a sump pump.

Managing a property can be incredibly rewarding, but it does come with its fair share of challenges—especially with the recent shifts in Rhode Island legislation.In 2024 alone, 39 bills were introduced, and seven significant ones passed, including extended rental terms, mandatory fee disclosures, and other updates that every landlord should have on their radar.