The lower of 4% or local CPI guarantees in the long term the existing tenant rents will not keep up with inflation.  

@Drew Sygit is a legit PM in Detroit.Stand up guy with a very good operation.I suggest you chat with him as he won't lead you astray.We are Detroits little brother and just down the road in Toledo.Much success and enjoy the BP forum 

I bought this property in college, renovated it while renting out the spare rooms and no use the property as a long term rental.

A Bank statement program would do wonders, 10% down minimum is industry standard, if you have a solid credit score,15% down will get you really good terms, however you still need to qualify DTI wise.Best of luck!

Add a "Long Term Stay Policy", so a long-term guest would need to cancel a month ahead.  

Most people that are successfully flipping have a flipping business with either employees on staff or enough work lined up to keep a GC happy for 6 months to a year.Its a tough business to make money in when you are doing one project at a time from a distance. 

Has anyone in the community prospected specifically for land with some good success? 

Hey Everyone!
I am going to manage some properties in Kauai next month and need to setup Trust Accounting at a local bank in Hawaii. Does anyone have recommendations on banks or have a contact I can reach out to s...

Now that I do have those boxes checked off, I am ready to learn what it takes to be a successful real estate investor. 

First unit lease is up for renewal on 10/31/2024 and has a good long term tenant.