All this with only having to put down 3% of the purchase price of the asset!  

You agree to pay an additional $200.00 lease violation fee each time we determine, at our sole discretion, that smoking has occurred in your rental unit, due as Additional Rent.

The HOA fees have doubled since I purchased them (plus assessments from insurance and hurricanes etc.etc.) but I still find them great.  

Purchase price: $472,500 It is currently operating as a short-term rental.

My business partner and I have full time jobs and have fully funded our first purchase.

I actually moved here from Portland OR and purchased my own rentals - all clean BRRRRs and hit the 1% rule.

I always look at the heating source and try to determine if it can be broken out to where the tenants pay for their own heat.

The horror stories are people buying too cheap and buying bad houses.Lots of great opportunities in Metro Detroit.LogicalPM can manage.We just heavily recommend not buying the cheapest property or getting tricked by a wholesaler on a $15k “great opportunity”.Just buy the good stuff.Metro Detroit (my rental portfolio is here)Purchase: $80k-$130kRent: $1200-$1500ROI: 10-14%Cash flow: $250-$350/doorAppreciation: Double digit (for past 10 years, will gladly send data)Location: C+, B- (suburbs and certain markets)We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, mortgage, Amazon fulfillment, and more jobs.The bad reputation comes from OOS investors wanting $20k D market properties.

Why do you think purchase contracts are so long and have such small print?

I think many of us use hyper-consumerism as a means of validating our self-worth.We NEED to upgrade to a new cell phone every year, we NEED to take expensive vacations to show our friends how fun our lives are, we NEED to purchase the more expensive car, we NEED to eat at chic restaurants and document the experience all over our social media.