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.

Each unused lock/deadbolt gets stored in a freezer bag with date and unit the lock was last used on -- so we do not inadvertently place the same lock on the same unit.   

Last thing, I would strongly consider consulting with a knowledgeable property manager or attorney once you have a copy of the current lease and all of the facts.

I moved to the Sarasota area last year, and have been impressed by the REIA meetings here.

@Gustavo Delgado I've looked at stocks, bonds, REITS, limited partnerships, and syndications, and have invested in all of them.

Based on an inspection report on one of the deals I worked on last year, I was able to negotiate over $15k of credits and repairs for a $200k house using a $400 inspection report for one of my clients.

Virginia passed legislation last year (I was not involved) that defined it as a real estate brokerage activity, thus nessceitating a license to wholesale.  

@Jared CarpenterPhoenix is a strong market for home sales and the competition has been pretty strong for the last few years now as the markets have recovered greatly from 5-6 years ago.

I purchased my first buy and hold SF rental property last year and turned the property into a student rental as it was very close to a local College.

Over the last 3 months, I’ve moved 4 of our 12 units over to a property manager.