If we were to approve you at 85%, we would want you to bring your 15%, or in this case $15K to the table when we close on the $70K property and then we would escrow the $30K for the rehab to be taken by you in a series of draws as you complete the work.

I also love apartments.com because once you have approved applicants you can answer a series of questions about the property and the lease, and then it will generate a lease based on your responses/preferences. 

@Madeleine Musante Check out the "Deep Dive" series here on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse Our analysis is a template you can follow for any city, but doubt you'll find this much info for any other market in the US.

@Mackaylee Beach hi, I actually recently taught a training series for Miami Realtors.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Suggest you read the Rich Dad Poor Dad series of books as well.

Also expect that your career might be a series of jobs that are all related.You could consider a role in sales.

My first rental was purchased was in 2003 which is 1 of the rentals I only have 2 rentals because of a bad series of events that went down with me and my old partner in the financial crisis.

I suspect it has to do with the fact that if you are living on premises then they actually do feel that you and your other tenants should feel safer because of imminent and immediate perceived danger to the person who as a financial stake at the dwelling. you have a higher likelihood of getting  "beat up" by the convicted felon that is living on premises and if you are the breadwinner/property manager/owner/money machine that keeps everything operating you have a higher likelihood of this happening if you live there and they certainly don't want to mess that up.Follow the money.....look real close and it seems like it is geared more toward the "corporate" folks that own a series of large commercial buildings.

(phone #)Thank you, Eric OlsenThese were all hand written and were the first series of mailers that included this home.As I said this was a first for me so I wanted to share my experience and excitement!