Lakewood is great and one of the best but demand is extremely high.

Never done it either, we've been approached to lend by some investors looking to do it.The risk of insurances rates skyrocketing or simply being cut off makes it extremely difficult.You also have to consider rental demand.

Real estate is extremely expensive in the area.

The price to enter is extremely low compared to other markets in the U.S. and the cash-flow is high.

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.PM us if you’d like to discuss this logical approach in greater detail!

Reports cost $15-$20k but they are done by CFA’s, attorneys and others and are extremely detailed (we had one done).

Another solid read is "The Millionaire Real Estate Investor" by Gary Keller, which focuses more specifically on real estate strategies.For podcasts, BiggerPockets is extremely popular and a fantastic resource, especially for beginners.

Given that “students” is not a protected class, it’s extremely hard to argue against zoning rules as they relate to them in housing.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

If they persist or get more extreme, I can always mention the idea of non-renewing them so that they realize they need to behave reasonably to keep their home (I can't remember ever needing to do that). 5.