When I calculate an offer on a property, I typically look at the potential rental income and subtract from that all operating expenses such as taxes, insurance, management and maintenance.

I know financing a mobile home with typical methods (conventional, DSCR) can be tough or entirely infeasible so way to get creative!

There are nefarious people in all of them that are looking to take advantage of OOS investors:(Typically, they try to sell you a Class C or D property, dressing it up to look like a Class A or B property.You don't really have to worry about that in the suburbs of Detroit, as most of the areas are Class A or B.The City of Detroit has 173 Neighborhoods, 104 of which we've classified as A, B, C or D. 

Hi all, I'm looking to open my tenant pool to all kinds of MTR tenants, but I'm curious as to how to screen tenants received through an insurance claims contract?

: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+, 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, 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.

However, condos are typically cheaper and you could find more options if you have a limit to what you can spend.

His MFM course focuses on first time investors transitioning from renting or a single family to their first multifamily, typically two to four units.

Jim  There are not that many that teach notes and its typically done virtually.

The single most important advice that I have received is "Timing the market doesn't work, Time In the market does!" 

They are after the mortgage; however, property tax liens typically jump ahead.