You identify the problem (lack of deposit) during your inspection phase, then hit them with an objection that requires them to pay you a deposit at closing.

I'm not familiar with Detriot, but it looks like Cleveland would make more sense in the 150k price range 

@Gregory Schwartz rates are above 7% now, so not a stretch to see them staying in a 6.5% to 7% range next year.

I suspect they will be in the $60k to $65k range for 2024 and the difference is market wide.i can look at airdna and see guest count is down.  

If you’re looking for an REI strategy state your financial objectives, resources and time frame and ask for suggestions.  

Structuring your lease in this way would benefit you by 1) locking in a longer term contract to avoid turnover costs and vacancy loss; 2) it moves your lease end date out of the winter season and into spring/summer of 2026 so it can be more easily marketed and re-rented to match the seasonal demand cycle; and 3) it avoids any upset/angry tenants who may have been incorrectly assuming their rent was going to stay in the $1,200 range after their first 6-month lease term.Would love to hear any updates you have on how this one shakes out for you though!

My property tax rate is 2.70% I have a great tenant so I haven't done large increases (like $150 or $200) since I don't want a unit turn but I'm in the market rate range.

If so, what rent ranges are what class?

Current interest rates were in the 8-10% range.

go to Home Depot, talk to some general contractors, join your local Facebook and meetup groups and start getting good ranges for every major item.