Buying a property without doing the proper inspections. 3.

The checklist here acts as a roadmap, ensuring that nothing is overlooked.Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance.

@Zach Howard you pretty much MUST hold it in an LLC if you don't have the proper visa or greencard.1) Many attorneys over-hype the benefits of an LLC for each property.

We had a back to back booking that day so the cleaner was there at exactly check out time to ensure they could turn the place in the 4 hour gap we have. 

Again, this is a factual action that will ensure that you remain in control of your property and that the other tenant has the peaceful use of the property that is a legal right.Fun, huh? 

If you’re using leverage, be extra cautious with your underwriting to ensure the deal still works at today’s rates.Economic Uncertainty: Inflation, potential recessions, or shifts in demand could affect rents, vacancy rates, and property values in some markets.Increased Operating Costs: Rising insurance premiums, property taxes, and maintenance costs can cut into profit margins, particularly for buy-and-hold investments.Regulatory Risks: Some areas are increasing restrictions on landlords, particularly short-term rentals.

My approach is conservative and focused on finding properties that meet specific criteria to ensure solid returns.If you’re interested in multifamily investing and would like to explore potential partnership opportunities, feel free to reach out!

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Address potential risks by explaining strategies like maintaining emergency reserves, purchasing proper insurance, and conducting thorough due diligence.