If you trust your friend as a tenant, renting at $2,000 now and increasing to $2,100 next year is reasonable.

The deal can make sense even if it doesn't meet some arbitrary "rule"  Thanks for the insight, everything you guys are saying has been extremely helpful.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Ultimately, it’s about trusting your gut and assessing each situation individually.

Trust me.

Hi @Charlie Green, I am extremely interested in hearing more about this strategy.

Do not trust what a realtor tells you to be correct. 

I just put too much trust in them.To date, I have not received an agreement with their signatures (fully executed), although I've asked for it multiple times to date.They sent a PDF agreement for review and gave me a deadline to sign, which I believe was a Saturday.

Out of curiosity, who are you trusting for your turnovers and cleanings?

My experience in the last 15 years is that except in the most extreme circumstances, an investor is going to need some of their own capital to make a deal fly.