I didn't want to lose the 3 plex so we went along with what they said, but it didn't sit right that they were going to remove my name from the title (to meet debt to income requirements) and then also mandate that the property is listed on the MLS (even though my name wasn't on the title).The 3 plex was purchased and the City rental Inspection is this week.  

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $57,000

Cash invested: $20,000

Bought a SFH that my grandfather built back in 1973. Fixing it up myself and hiring...

Property taxes $3,611...run through the numbers and you will see it's all an appreciation play...since you will only cover monthly expenses with a lot down...With respect to appreciation...at these numbers I am thinking more about selling then buying...other house we bought for office/rental up 15% per year in two years since we bought it...feels great, but makes me nervous...If you are interested in short term rentals be sure to check with the City, as they are only allowed if more than 250 feet from another short term rental, so westside, near the river are locked out...That said, if you do decide to invest here pick areas carefully.

They especially tend to dislike and distrust city folk from places like Massachusetts. 

The city tends to back these citizens as well. 

Here’s the link to the tax estimator for Grand Rapids. https://www.grandrapidsmi.gov/Government/Departments/Office-of-the-City-Treasurer/Property-Tax-EstimatorAt $177,000 purchase, taxable value is 1/2 = $88,500PRE = 0% (non homestead)Taxes are $4688

City: Spokane and Valley. 

The lady lived in Marin county the project was in Lake Co CA  a little island called Indian island just off shore from the City of Clearlake. 

On my last trip it looked like the city government was doing a great job building commerce and supporting businesses.

Cap rates look great, crime is low, and the city itself seems to be booming as of late.