You typically offer it to your partner first to see if they will buy you out.

How much upfront costs are typically involved in a project before you know if it's a viable project to pursue? 

Bonus, Overtime, and Commission income all typically need a 2 year average either at the same job or in the same line of work.

Typically, 8- 12% net for OOS investors based on cash purchases.Good luck 

Maybe selling is an idea worth considering if the house is a Mona Lisa and kind of beyond the general reality of typical tenant's maintenance obligation and ability, and they aren't paying for the additional quality.If you really want to keep the home, you may find a way to be very happy about it with the right team, whether it be property management, electricians, contractors, or tenants.

Look into connecting with some local investors, they typically have meet-ups often and swap stories and different strategies.

To echo Dominic, typically if you need to raise under $1mm of equity, the formation costs become overly prohibitive.  

It generally isn't worth the brain damage of experimenting though....especially if you want to move to a new home that you will own inside of the typical lender's seasoning period.

If all things are the same a 3/2 will command a higher price than a 2/2, and typically as a property gets more expensive the average length of stay goes down.4.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?