I have a large Akita dog and understand the importance of renting properties that do not have restrictions on breed or weight.  

For those of you buying  and rehabbing distressed properties for long term holds, in West Michigan, Grand Rapids, Lansing, East Lansing, Detroit, the Lakeshore, Grand Valley, Heritage Hill (all key words) =) or anywhere else in the State of Michigan, I would encourage you to research the Mathiew-Gast Act. http://www.gladwinrealestateagent.com/mathieu-gast...  

Here are some rough #sAsking price: 195,000Planned Purchase Price: 170,000 (the rest below is based on this price)75 LTVDown Payment + Closing Costs: 47,600Loan Amount: 127,500Amort Period: 20 yrsInterest Rate 6%Current Rent: 39,420 (owner says that is what he currently collects, I would hike the rates as they are below market and probably why the owner says he stays fullOperating Expenses: 14,107 (Tax, Insurance, utilities, 6% vacancy, 10% maintenance)NOI: 25,303Cash Flow after P&I: 14,351Return on Cash Invested: 30%CAP Rate (Weighted for Leverage): 14%Gross Rent Multiplier: 4.3Debt Service Ratio: 2.3Cash Flow Per Door Per Month: 133% of monthly rent to purchase price 1.9%What do you think?

Maybe charlottesville is hitting more of a peak while Richmond stays white hot and rapidly gentrifying?

Probably not applicable in "wrap mortgage" situation.Probably a few more but spit this out between a weight room set.

A state with deeds of trust, rapid foreclosures, and no redemption rights, might fall in the 5% to 10% below market range.Debt forgiveness is taxable only if:The Mortgage Debt Forgiveness Act is not extended into 2017, orThe borrower fails the "insolvent before and after" test.

.*** With premium savings of $____ per year, are you willing to pay out of pocket for any claim resulting from; 1) Falling Objects2) Weight of Snow, Ice, or Sleet3) Water Damage4) Collapse5) TheftThe 5 "Perils" listed above are coverages excluded on a DP-1, but are covered in a DP-3. 

I knew the laws in Mass were weighted greatly in the tenants favor before I turned my old home into a rental, but I didn't realize I could be penalized so severely for mishandling accounts or bookkeeping errors. 

And of course weigh the weight of the opinion: meaning, only an Atty who feels so strongly about it that he/she would represent that legal opinion in court on your behalf!

This 20% is normally where you make or lose money in my experience and why a PM company if they are a partner are worth their weight.