The current owner has worked in the business since 1981, and owned it since 2007.Key features:- $25k minimum investment- 4 year timeline, projected annual IRR 35% and equity multiple 3.12- adjacent to public transport, in a suburb where there is both housing demand and limited supply.- operator has built and filled a similar development nearby- You can find pictures and numbers on some of the buildings they have built and are building here (https://lnkd.in/gfbdvtnf).- You can find a profit calculator spreadsheet here (https://lnkd.in/g-2m_vZA).

Again 20% annual return.5.

Most PMCs use PM software that tracks income & expenses and provides a monthly Owner Statement and some type of Annual Statement for income taxes.

Annual revenue is up 17% with 60% occupancy rate. 

6-7k is annual cash flow.If so I would make it a LTR since the STR is not much cash flow and a lot more work.You'll likely be the one doing all the work for your partner.

The median price is still just $90k and I wouldn't be surprised to see it double again pretty quickly.The other nice thing about Michigan is property taxes are capped at the rate of inflation with a max annual increase of 5% per year.The biggest drawback of Detroit is tenant quality IMO.

I checked AirDNA, and there is a comparable nearby that grosses $80k annually.

Next, annual inflation rate. 

What if you're a cardiologist with no debt and making $250,000 annually?

No fear of the Big bad IRS wolf coming knocking for a pair trail?