Highly recommend (I require) collecting first month's rent prior to handing over keys.

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.

I've decided that finding "deals" in Arizona is unnecessary as there are other markets that one need not search high and low to find something that can produce a decent cash-on-cash return.

Ask yourself: do I really have the knowledge of real estate principles, real estate law and real estate finance; the network of contacts; the experience both in business in general and real estate in particular; the time available; and the analytical ability to compete against FULL TIME EXPERIENCED PROFESSIONALS to be successful in a field where the failure rate is so astronomically high?  

Having the contractor relationship in place to move quickly and provide a high quality renovation at a reasonable price.

A buddy of mine just built a duplex on the water in Placencia

Rental arbitrage isn’t common in my area ( high point North Carolina) but I was planning on starting in another state.

Kindly let me know if possible.RegardsHey Kemi, I would start with something either turnkey or light value-add, so you can start forming your boots on the ground team with less pressure and risk.

It is a freehold property, recently renovated from top to toe with high quality, large garden, and kept very clean at all times.

Be prepared for a high rate/high fees