So when it came time for the lease renewal, we got an attorney to make us a strong lease according to michigan's state laws and handed her the lease, the price increase to $1100 plus $50 for the pet if she wants to keep it.

My father is in the real-estate game and with the previous experience I got, I've realized that this is definitely something i enjoy and would like to pursue.For the passed 3 months I have been concentrating on increasing my real estate investing knowledge daily through books (7), many podcasts and articles as well as youtube videos.

$200-$300 cash flow is a good number after all expenses but I would find a way to increase your COC return. 8% is pretty low but if you can find a way to have less of your cash into the property, your COC will be higher and you'd have more to invest in other properties.

My strategy would be to hold onto this property for 20 years while my parents receive the income and then cash out when the market is right.Rent: 8% gross salesCap Rate: 6%Base Term on rents: 11 years with 3 10 year options.In my projections I'm assuming sales increase 1% a year below 3.5% inflation.Using this conservative assumption IRR is close to 9.5% over 20 years (assuming an exit value with 7% cap).Does this sound like a good investment strategy?

The unit rent is likely to go up in the short term increasing the cash flow. 

and how does your company sustain overtime with these "lifetime" warranty as if the customer experience any problems with foundation, you will be called and you will have to provide the support. 

If i had to pick it would be under 2M$.Im looking to get properties at a discount to rehab and increase their value.Any other major details i should specify?

Your handyman is probably working under a standard business license, which forbids being paid or accepting payment for more than $1000 on any job or for any customer in a given year.

The fee/increase in rent will cover the increase in water usage. 

The way I see it is if the property taxes are so high to keep from getting ahead with your rental it doesn't pay much to keep it or look at that area to buy.We had a inner city 6 plex,, our taxes jumped from 5400 a year to 6800 ... on a 6 unit building this was after we had contested the tax hike that's 133.00 per apt per year or 95.00 bucks a month just for taxes.per unit.. we contested the increase hired a appraiser had a meet and look at with the city appraiser.. it knocked it down for a while but went right back up a year later..