Lease for that one is up in July and would use that window to do that if the juice is worth the squeeze.

For the municipality issuing permits they would only typically allow a homeowner to build for a primary residence of their own, BUT they have little ability to enforce that after the fact.

Typical entry fee is $50-$100K for each deals and typically for the best deals you need to be accredited. 

: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+, 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, 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.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

I can't imagine it could be worth the hassle. 

SE Michigan (House on Zillow says it's worth $348k it's a 3br, 2 1/2 ba), semi finished basement.My house currently needs a new roof, new water heater.

If you have a reliable, thorough cleaner and you are striving for 5 star ratings, I would pay the cleaner whatever they request.When I finally found such a cleaner, I asked her how much she wanted to make it worth her while to guarantee my unit would be cleaned perfectly and on time.

There are so many unknown-unknowns and, unless you have a very experienced mentor willing to walk you through it, I don't think it's worth the risk for a rookie to take on self management.

@Randy MannYou will need to find a private lender or partner on these dealsAlso recognize that when you go to refinance it probably will not be in a year as the lender will want to typically go 75% max and chances of that type of appreciation in 12 months is very very low