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!

Still, this is a poor time in the rental season and 1 months rent can be expected as a cost of vacancy (in addition to the cost to clean and touch up - $900) .Finally and I hope this is is the last one lol - Another tenant is moving out Jan 31st and this unit also requires a full cosmetic rehab.

As a result, competing against seasoned investors in the multifamily space can be challenging, especially for newcomers or those with less capital to deploy.On the other hand, single-family homes (SFH) are typically the go-to choice for primary homebuyers, who are not always as cash-rich as investors but can still secure financing through conventional loans.

They do not want the other person's name on the deed or the mortgage once the dirvorce is finalized.   

I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.

Stainless steel appliances, cleaning service every other week and I am johnny on the spot with repairs.As a result my vacancies are not that bad even with a model designed to be somewhat transitory. 

But by building a successful short term rental business on someone else’s property aren’t you giving away the increase in value of the property resulting from your efforts to the property owner?  

We follow a similar model as @Bill B. and with similar results, except our properties are from the 60s, so we gut them and rehab from the studs up, basically resetting the clock. 

@Chris Seveney even better results can be obtained with a Solo401k , if eligible.

The rent-to-price ratios in many neighborhoods are strong, and the city’s population is finally growing again after decades of decline.One thing that stands out to me is Detroit’s median home price—around $95k—which is far below comparable cities of its size in terms of population.