I was chatting with some of my lending buddies at big banks and they are all backing away from the CRE space including office because operating costs are increasing more quickly than rents.

Through my journey I have gathered priceless information about the markets and maintained countless of connections including contractors, investors, agents and brokers.

They often provide standardized lease agreements that comply with state and local laws.Additionally, many landlords use platforms like Avail, Zillow Rental Manager, or TurboTenant, which often include customizable lease templates that are state-specific.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

These typically include services like renters insurance, HVAC filter delivery, pest control, and sometimes utility management.

Guests do like local channels especially for sports.

There is roughly $20,000 left in rehab including windows, floors, a new kitchen and bathroom. 

What the gurus don't tell you is that they are comparing market rents to the GROSS amount of S8 rent on a voucher which INCLUDES LANDORD PAID UTILITIES!

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Assume break even cash flow while rented which includes a generous $600/mo repair fund.