And lastly, market risks and mismanaged funds can also create major headaches, especially for those involved in lending groups.

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.

Forget the lease type that the last owner used...just give the notice. 

For example, will they look at the T12 (Trailing 12 months), or something shorter like a T6 or T3 (last three months).

Jessica, we do have thousands of organic likes on Facebook and have been in business since 2007, please Google us, we are no allowed to ad links nor phone numbers on here. 

In some cases, it may not be possible to purchase and store materials, but if it is, that is one way to protect your budget and avoid a costly mistake.The last thing I would offer for you to think about is having a pivot plan. 

Don't forget to ask when the last time everyone's rent was increased - with section 8 you can only do that once/year. 

I'd tell the tenant they are clearly not happy in the house and tell them they are welcome to break the lease (this is the last offer). 

Key is creating memories that last a lifetime.Excited to learn and connect with you all!

Some of my clients in this scenario literally just pick-up the phone, tell the seller of their specific property they are interested and they are well qualified, and see if there is some kind of fit.