Are you looking for agents in a specific area? 

Lastly, you'll want to make sure you buffer your construction budget that goes to the bank. 

I think one of the positives not mentioned is that section 8 rents go up every year when they raise their budget (at least where I am).

Target a price based on where I am in my REI plan, which has a specific amount of cash available, and a specific return needed from that cash, at the specific timeline in my plan. 

On the other hand, if you have a lower budget, let’s say $100-$150k.

Are you looking for properties specifically in the city of Grand Rapids, or the surrounding areas as well? 

Documentation should include details regarding the business purpose, total use of the property, specific expenditures, business usage, and dates of expenditures and use.In the absence of such documentation, deductions are vulnerable to disallowance, leading to potential penalties and additional tax liabilities.

I had budgeted a 10% increase but never expected anything like a 20% increase.  

If your lease doesn't address this specifically, don't think you can keep their entire deposit.Put the rental back on the market.

Reading comments and your specific feedback, it looks like i should have gone for a bigger investment property or properties with DP instead of all cash.