To echo Dominic, typically if you need to raise under $1mm of equity, the formation costs become overly prohibitive.  

It generally isn't worth the brain damage of experimenting though....especially if you want to move to a new home that you will own inside of the typical lender's seasoning period.

If all things are the same a 3/2 will command a higher price than a 2/2, and typically as a property gets more expensive the average length of stay goes down.4.

@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?

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

I also have some capital to contribute.Could someone explain how syndications are typically structured, and how are people using Other People's Money (OPM) to build large portfolios with little to no money down?

Consult you insurance broker for specifics but I found this policy to be very protective and reasonably priced.With regards to an umbrella policy they are typically good to have.  

What does it tell you when a city can't afford to put a few structures with colorful lights for the holidays?    

National banks typically do not offer products that suite your needs here. 2.

Typically its done for open space or use for community property (ie. fire station location or other county use) and typicaly would assist in increasing tax base.