I was unaware until recently just how bad the condition of the home is until recently when I sent an appraiser over and he said it was a tear down which a couple contractors have also now told me as well.The property is historical and has a county historical marker which it received after my grandmothers passing which we were not able to place yet.

For detroit,  I was looking into areas like Bagley, or Boston-Edison Historic District and saw houses for really good prices. 

That being said there are also bad deals in any area, here included.I would run your numbers based on historical data from airbnb - pretty easy to check on airdna or even just going in the airbnb app and seeing not only what nightly rates look like for certain properties but what their occupancy is - from there you can estimate monthly revenue with a reasonable degree of accuracy and see if that lines up with your targeted returns.

The challenge we now face is whether to keep targeting smaller multifamily properties due to the historically low interest rates and very favorable loan terms or look for smaller commercial (roughly 10+ unit multifamily) properties even though the financing is not as favorable (at maximum will need to refinancing by end of year 10) and cap rates are extremely low? 

There are diverse activities year round from lake beaches, hiking, sightseeing, leaf changing tours, skiing, indoor waterpark resorts, outdoor parks, farms, zoos and historic areas. 

Yardi's Advanced Budgeting and Forecasting module is wonderful and tends to be more accurate because it builds its forecast on all of your historical data. 

To illustrate the other side, the rest of the island (outside of these resort zones) has historically been a place where owners can only do MTR's - 30 day + stays, but new legislation just got passed and it's looking like a minimum 90 day stay will be required.

However, my next buy will be downtown or in surrounding areas in the city of Charleston as they have historically seen more appreciation, or to think of it differently, the 9% appreciation will result in a bigger increase in my net worth on a 500k property than a 200k property if the rate is the same. 

In 20 years, when the houses were paid off and likely be worth about double the 150k per house (historical averages here in midwest), you'd have about 3 to 3.5 million in real estate and you'd be making 10k to 12k a month in rental income.I'm not saying you can't do that with notes - based on what some friends of mine were doing a few years ago.

I'm seriously looking at a flip in the historic West End Atlanta area but I'm getting conflicting data and I need some help sorting things out.