I have been cautious about raising rents as I try to maintain goodwill with the tenants.

Detroit has a mix of affordability and strong rental demand, with properties under $200k that can cash flow if approached correctly.

Our exchange didn't work out and they returned the proceeds via wire as soon as our 180 days were up.I not sure I am doing this correctly.

We had to make sure we sidestepped them and only added information to the correctly entered, active applications.

Our other 3 buildings (two duplexes, one 3 unit) are basically stabilized at this point so just continue to maintain them and build the reserves even larger from the cash flow they spit off.

Knowledge is power:Thorough Inspections: Minimize surprises with detailed inspections and due diligence.Strong Screening: Careful tenant selection reduces vacancy and headaches.Diversification: Spread your investments across different locations and property types to mitigate risk.Financial Planning: Maintain a buffer and choose financing options that fit your long-term goals.

This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.

Cat odor is far more problematic than a small dog, but I would check landlord references to confirm how they've maintained their last residence.

E.th. you mention in the post is correct. 

By prioritizing fundamentals over chasing ROI benchmarks, he’s now sitting on an asset that’s appreciated 30% and maintained strong cash flow.Personally, I once miscalculated reserves on a triplex I bought early in my career.