Some states will give the underlying land while others will give the land but expect the newer owner to compensate the old while still others would require the owner to compensate the person who performed the value add.

I understand that starting out, depending on how fast you want to build your portfolio, you could spend a lot of time at it.For those with established investment portfolios, how much time is required to maintain it?

I think I will not let him make this upgrade as a 5 year payoff would require over $100/month additional rent.  

I am sure that there are folks out there with banking relationships where the banker would require zero down.

Pretty impressive Johnathan,As you stated, the majority of your spending in Detroit has been turnkey properties that required very little work. 

Both turnkey properties and properties requiring minor rehab can be viable options.

Only a few simple documents are required, including a valid passport, birth certificate, and proof of address.

Wait until it's close to the end of his lease (know what the law requires) and then give him notice that you will not renew.

I am unaware of any law in any state that requires you to have a CPA.

They are currently 10 weeks, and required before you can make a permit application for a house.