If you took DIY possession, was it legally allowed because the property was abandoned, or was it illegally obtained and doesn't mean anything when it comes time to file a quiet title lawsuit.If legally abandoned, that means the owner is gone, has no intention of coming back and no intention of ever doing anything with the property.

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.

Buyers don’t care if you shelled out more on the rehab, if you’re priced too high, you’ll end up sitting on the market way longer than you want, driving up holding costs.Lastly if your buying on market, REO or Corporate sellers are dominating and not as willing to negotiate as owners would.

I'll probably end up uploading it to HoltonWiseTV, but for now here is the automated transcript from our phone system.

- properties going at a time as a sort of hedge against 1 contractor holding me back on 1 property rehab.

It's pretty easy to see that real estate proces peaked around 2007-2008 and then crashed during the Great Recession.Around 2011-2012 prices started to recover and got back to their pre-Crash highs around 2015-2016, but really 2018-2019 when adjusted.So, why are newbies reading books written BEFORE 2019 and thinking that you can still successfully invest using the EXACT advice in these relatively "old" books?

The previous homeowner enclosed the back porch and was using it as a 3rd bedroom.

Appraisals are backed up and on the right timeline of investor deals, every day counts when you need toBeef up the appraised ARV to get a healthier LTV.Hope this helps!

For those that qualify for conventional financing its another negotiation tool, for those that do not its a way to get into real estate but many do not understand what it is they are signing up for.Regarding it being good for an owner, again it goes back to the borrower, if I have a borrower with 800 credit and I control cashflow its far different than someone with 540 credit.

I live in NYC and started investing in Buffalo a few years back, mainly for the reasons that you mentioned.