Landlord trade show, gambling, and my birthday!

Also keep in mind that borrowing from the PLI will not affect your debt to income ratios with conventional financing, but it may with portfolio lenders or 2nd TD lenders out there who have to do a bit of CYA as their guidelines are a bit different.

I personally don't agree with it for the most part but understand the need for a guideline and that is easy enough.

City Rehab Estimates : I would use as basic guide line of correct city outstanding code issue.After purchase is completed contact brew city code department : ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ - let them know your new owner of record - request to be taking off of month to month city inspections - City inspector will check on the property after 3 months for progress, 5th month you would receive a warning for outstanding issues, and sixth month you will be fined for outstanding issues Moral -> try to resolve any outstanding issues in the first 3 months

I'd recommend you use both data sources as guidelines for your valuation, setting your expectation.

I just realized that my entire real estate investing strategy might need a touch up, depending on the answers to these questions...Is a townhome (where you own both sides/units) considered the same as a duplex and fall under the same guidelines as well?

Every investor or buyer is going to have their own set of guidelines that they look at or consider when looking to buy a property.

I replied by stating that my company has strict guidelines for accepting Rental Applications.

@Yolanda SmithIf gambling in Detroit isn't your thing, I would look into Grand Rapids.

Note, with all that said, he 70% rule is NOT an end all rule, just a guideline and some adjustments may need to be made or can me made.