If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Confirm with your lender if they have looked at Freddie products.Now for the repairs themselves - If the repairs require licensed work, work to have the seller hire the contractors to complete the repairs.   

You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

NY Property Taxes, and utility expenses was one thing keeping us from generating a higher cash flow from rental properties.

The vast majority of properties at their available prices will not meet this requirement.  

Guests are used to cleaning fees, so adjusting it to match the actual expense is reasonable.It’s also helpful to check comparable listings in your area to see what other hosts are charging.

Second- these developments where the same person develops, builds, and then requires you to use them for management- they always suck.

2) The minimum hours required are 750 hrs, but if running a short term rental, 100 hrs is supposed to be adequate, is that still true ?

You learn over time how this works or sometimes a mentor is the right choice to get there faster with less expense and fewer mistakes. 

My client's living room is completely unbalanced and odd looking because this wasn't done, which I had to hide with some fancy drapery "magic" that was expensive.