For example:• 2 blocks down from the second largest hospital in the area so perfect for traveling nurses.• Needs lots of new paint, floors, wallboard, plaster repair, fixtures, and updated appliances.3.

When I calculate an offer on a property, I typically look at the potential rental income and subtract from that all operating expenses such as taxes, insurance, management and maintenance.

I know financing a mobile home with typical methods (conventional, DSCR) can be tough or entirely infeasible so way to get creative!

For example, the city of Palm Springs has a hard-limit on the number of STR rental permits it allows (and it has a huge "wait list").

A reverse mortgage can be paid off, but the parents may have trouble obtaining financing as typically a reverse mortgage is received when borrowers have trouble making monthly payments and have little income but lots of equity.

For example, cash advance apps don't report activity to the credit bureaus unless you are seriously behind on your payments.

There are nefarious people in all of them that are looking to take advantage of OOS investors:(Typically, they try to sell you a Class C or D property, dressing it up to look like a Class A or B property.You don't really have to worry about that in the suburbs of Detroit, as most of the areas are Class A or B.The City of Detroit has 173 Neighborhoods, 104 of which we've classified as A, B, C or D. 

Zillow applications are one example of a poor implementation. 

However, condos are typically cheaper and you could find more options if you have a limit to what you can spend.

Its typically about a $20k job in a typical size row house.