I have resources for windows, doors, roofing, etc.

I currently rent and am very frugal , no debt, drive a used car, have a roth ira etc  I have an opportunity to get a 1980 4 bed 4 bath ranch duplex ,full basement , one car garage per side,, new roof, original mechanicals duplex from a family member off market in a solid B to B+ area/country setting 1.5 miles outside of east side of city of 150k people.

New roof and siding is needed, as well as all new electrical, plumbing.

My intent is to get in and work with the property owner and see if they are interested in selling instead of losing the property as well as their credit being wrecked.I'd recommend establishing good relationships with prospective sellers.

I enjoy investing in traditional single family homes, as I’m not sure the appreciation potential of tiny homes is the same as a traditional four walls and roof building, but could definitely be a short term rental niche worth exploring!

.✅ Capital Expenditures (CapEx) – Roofs, HVAC, major repairs—set aside another 5-10% for these.✅ Utilities – If tenants aren’t covering all utilities, estimate based on past bills.✅ Landlord Reserves – Always have extra funds for unexpected expenses.To make sure you don’t end up losing money each month, use a rental property calculator or build a simple spreadsheet to break everything down.

I am from Spokane Washington, and the real estate prices there are through the roof and make it almost impossible for a new investor to get started.

These Capital Reserves are to cover Capital Expenditures (Cap Ex) such as Major Roof Repairs or replacement, Major Electrical Repairs, Major Plumbing Repairs, or other Big Ticket Repairs.

With vacant land becoming increasingly scarce—especially in Southeast Michigan—could we see a rise in home teardowns within established subdivisions?

I'd rather take a lower cap on something established, versus a higher cap on some new chain.