This is where you can go down the rabbit hole of where to find these deals…different philosophies and what is even realistic ect…this is super market specific and a whole conversation of itself….however still very possible as this is how I started out.

HOA prices and restrictions is probably the next biggest thing to pay attention to as they will have a lot of influence on your profit margin and growth potential.

May be something for you to think about and double check whether or not it's the same in your area.The upside to this is that your returns can be great using a rent by the room strategy as long as you are prepared for the specific needs of the market.

Miami isn't a city; it symbolizes ambition and the joy of accomplishment.Lets delve into the specifics!

Margins are already thinner than they used to be on flips, and, especially, as you are learning, taking risk out by putting more cash into deals buys you a little flexibility.

I'll bring a list of specific questions.

Do you have any specific areas?  

Specifically, key items will be pre-empted to the state level and new ordinances limiting rentals cannot be approved unless they were in place prior to 2014.

But there are implications to that strategy so be sure to discuss your specific situation with qualified tax expert as this is not a tax advice and I’m not a tax expert. 

New siding shingles can be purchased that are made of non-asbestos material to replace any original ones that are damaged and they are easy to paint - we do that for cosmetic purposes but we don't replace or encapsulate the entire house.That said, I would talk to your Realtor to determine if there are any Michigan-specific rules/regs regarding asbestos siding.