This definitely sounds interesting, but at the same time very complex.

@Mac Boeve Michigan statute requires you to provide a MoveIn Checklist to every tenant, which they have 2 weeks to complete and return.If you fail to provide one to tenant, it may exempt them from MoveOut Damages.If tenant fails to provide you a completed MoveIn Checklist, they assume all MoveOut Damages.If tenant fails to give you forwarding address within 4 days of MoveOut, you technically don't have to give them an Itimized List of Damages - meaning you can theoretically charge them for anything, any price.You should know, a judge may disagree with you if tenant takes you to Small Claims Court to challenge your SD deducations. 

Local market rents are between $1400 and $1900 /mo within 2 mile radius.Two of the homes are 3 bed, 1 bath, appx 1230 sq ft, same rents as above.Each home is worth appx $265,000.

You can either make your new lease expire at the same time as their old lease - so you can modify your rental rate then; or you can bake a new rental rate into your lease at the time their old lease would have expired - so something like "Through X date your rental rate is the old rate, and beginning the next month your new lease rate is X $ more.All the best!

Minnesota is the same.

The same can be said converting a duplex back to a SFH.

The landlord, who lives in Indiana, recently notified us that she plans to sell the home and we have 90 days to find a new spot.

@Taz Zettergren to be honest, I too like the Little Rock suburbs more than the B-ham area.I have been more active though in Bham because I really found a great team of agent/PM/Lender in that area and I feel confident in their ability to get me a good deal.Unfortunately, I cannot seem to find an agent/broker in the LR area that gives me that same vibe. 

Hi John, I am in the same boat about Cody's program.

One I know is days on the market but I would like to know a strategy more in terms of the work needing to be done on the property.What is the typical rehab budget for a full gut versus a fixer-upper that needs some updating such as for the kitchen, bathroom, new carpet, roof, and/or driveway for example?