Lastly, check any shared doors or gaps and add door sweeps or weatherstripping to block sound from traveling between the units. 

This motel has been great for the last 4 years, constantly filled, my manager lives on site and gets free rent for taking care of the property, filling units and collecting rents. 

In case you missed it, Detroit' Mayor Duggan announced that the value of houses in the city increased 23% in 2024.In the last 7 years, Detroit housing is up over 300%!

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.

Don't forget to ask when the last time everyone's rent was increased - with section 8 you can only do that once/year. 

Hello @Jeanette Land - (Great last name by the way to be into Real Estate)...

🎯 Leverage PowerWhen's the last time your broker let you buy $500,000 worth of stocks with $100,000 down?

I've closed more than 110 deals in the last 26 months (remotely).

and "when was the last time you were at the property?"

I want to remain local in NJ or at most drive down 1hr to PA (self-manage or, last resort, hire a PM)However, I must also consider maintaining reserves, a safety net for my primary home, and an emergency fund.It's just hard for a new investor now :(