I always say to my staff; Firm, Fair and consistent!

We plan on using the BRRRR strategy to grow our portfolio, which will consist of single family homes in southeast Michigan (tri-county area).

I don’t think that’s consistent.

when it comes to buying rental houses in the quote un quote cash flow markets.. these markets are pretty much all interchangeable.. rent rates pretty consistent  with about a 1400 to 1500 cap.. higher than that and most will buy.I think for quick math for out of state folks so they don't get lured into properties that are ONLY appropriate for local tough as nails landlords.. you simply need to look at the median price of the area.. then buy within 10 to 20% of that.. and also only buy were the rent commanded is within 20 to 25% of the top rents in the area.. 

Consistency in everything is the absolute key in this business.What @Jeff Zimmerman said about the poor quality of a lot of flipped houses is unfortunately very true.

We figure that it would be less of a consistent pain for a long-term rental since we both work full time. 

I have a 12 unit apartment building in Western wa. built in 1960 it is an amazingly well performing asset.

If they are in foreclosure, don't sign unless you can perform.

Even if you have plenty of liquidity, they will want to see what your plans are and how the property will perform.

I have my properties under management but would still like to see how they perform, how reserves build, what the ROI and CCR are, etc.In the list of tools and perks, I see property mgmt tools but I am paying my PM's for their work.