If this is a good friend, tell him to find a reputable property management company and you can just be the eyes and hears on the property.

If you are buying cashflowing properties, your DTI should improve with every property.

ANYTIME I deviate from my process and make an exception for someone, thy never work out.The key takeaway is to ensure you have some way of vetting people and they have the right character and cognitive skills to succeed because you have a lot of people who are great at selling themselves.ENTJs and ENFJs are the most common personality type you'll encounter when you're recruiting employees.

Soon I'll be purchasing my first ever investment property (Virginia) (MFH) and I honestly feel like I made a mistake.

This area is strong in tourism/fishing all summer, and Hunters renting STRs all fall, many bring horses or mules, the property could support boarding horses for these instances.If this plan sounds funny, I understand that it is, I work and live on a ranch with my family an hour south of this town, but one day wish to retire and live there, other than that we have not considered this area much for investment potential, just looking to buy something for ourselves one day, but that would pay for itself until then, Tipis would be a very low overhead way to peel some return off the property quickly.thank you in advanceKale

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

If the property is vacant, you will attract a larger pool of buyers as not everyone looking for a house wants to use it as a rental.

Budget in this order:--- Health & Safety: to avoid personal injury lawsuits--- Governmnet required: city inspections & Section 8--- Property Preservation: foundations, roofs, windows, etc - except if you can band-aid them for 2-3 years.--- Marketing Impact: got to be able to attract a tenant!

I wanted to know if anyone knew any good property management companies in Michigan?

It’s clear that your background in finance and hands-on experience with property management gives you a unique edge in helping clients navigate the real estate world.