I focus solely on Detroit proper because, in my experience, the rent-to-price ratios, opportunities for value-add projects, and overall market potential are much stronger there.That said, Detroit is a nuanced market.

I recently came across a property near the international airport that seems to have good cash flow potential.

She’s currently not paying rent, and while she has some health issues and no stable income, she’s been communicative and open to general talks, with a possible option to vacate through a cash-for-keys arrangement, though this might take around six weeks and some hard work.I plan to rehab the property and eventually rent it out, potentially to a Section 8 tenant.

As of this morning July 2nd 2024, a full 2 weeks after writing their current investors that they are suspending interest payments, they are still seeking new investors for investments but do not inform the new potential investors that they have suspended interest payments.

Known  Potential Black Swan events, numerous.  

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

@Enrique Toledo  Any update on this potential deal and what you wound up doing?

Have you started thinking about your strategy or exploring potential markets?

A Solo 401(k) may be advantageous for self-employed individuals, offering the potential for participant loans, higher contributions, and no custodian fees, as well as higher contribution limits and the option for tax-deferred or Roth contributions.This post does not create a CPA-Client relationship.

It also offers a chance to shift into something more passive, reducing the hands-on management that seems to be more of a hassle now that you’ve moved.That said, the rental income potential from your properties is worth noting, but there’s a limit to how much you can boost your cash flow, especially after already making significant upgrades.