When planning the rehab work, make sure you understand the extent of work required for each unit, including material, labor, and permit expenses.

Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B- These numbers are based on the “sweet spot” in Metro Detroit.

I've talked to the physicians about why they used apartments.com to find us and most of them have never heard of Furnished Finder because they aren't travelers and they didn't look at Airbnb because they thought it would be too expensive and they didn't want a different place each time they came. 

It is lower this year in the area.2nd, I think there can be a demand for this, even more so if it is private.

Orange County is obviously very expensive, but have you looked at neighboring cities, even Las Vegas? 

Yes, I have used them on some lower-end rentals.

My net cash flow from my rentals is now 17k/month after all my expenses.

Open up a separate bank account just for your rental activities.Have all your income and expenses run out of this account.This will make it easier to determine what is business.

The problem I have is that even though I have reasonable savings and income, the lower income from the 2022 tax year is getting in the way of qualifying for a property that I can afford with my actual income of $130-145K.

Reduce expenses.