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I’ve seen deals like this before where a seller needed quick cash but was still emotionally tied to the place.

Hey Jacklyn, I am going to shoot you a message real quick about connecting to talk some more about this

If they are professional, they can explain this quickly and easily.

And they sell lots of them.My issue with them is that from a quick look it looks like they're selling everything at a 20-30% premium (which I understand and respect).

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I suspect build cost in CA are closer to 400 a foot than 200 like many other areas and of course far higher for the custom homes.

I get it, but customers never seem to understand.   

SIH has some marketing gimmick with the Real Estate Guys where they bus unsuspecting retail customers around to the sites to see home being built.

Here’s a quick breakdown of our financials:Operational expenses (excluding mortgage): $33k (Jan-Dec 2024)Annual mortgage payments: $58kTotal needed to break even: $91k+Income earned this year: $80kClearly, we need to bridge a gap of about $11k just to cover our expenses, and I’m exploring options to increase profitability.