I can feel that you have embraced the move and change. if you want to meet some local investors there is a meet-up next Tuesday. it's posted in the classifieds.

Feel free to PM me if you want to chat.

We've averaged around 7% for mortgage rates for the past two years now…I think if we can see a settling somewhere in the 6% range, if not sub 6%, we will see nice consumer confidence not only for home values, but rent values as well.

I'm currently with an investment brokerage but my end goal is to be an investor and feel the big shoes my parents are leaving me with! 

However, value add with a sale is not as implacted by rates.  

In my estimation it takes 2-5 years before a rental is broken in and feels like a good investment. 

private money lender How did you add value to the deal?

Hey @Alex Moazeni, feel free to PM me.

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.

We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.