Won’t this cause water to get trapped and cause the wood to mold and rot inside the concrete?

It's like musical chairs and this will keep driving prices until the market finds an equillibirium between supply and demand, which all free markets will do over time, but since supply and demand are not that flexible it has to be price that will reduce demand until we are balanced.Milwaukee is also seeing a little bit of an increase in imigration due to climate change: smoke, fires, drought, hurricanes, floods, fresh water - in combination with remote work and low cost of housing compared to most of the country.

Any insight on water?

. :) Plus we're near the water. .Our plan is to fix and flip (Should be on market by early Spring at latest).

That could indeed be the best choice but just consider - If it's already hard to treat this like an pure investment decision now, think how hard it will be once you get into it....

You can buy strainers that catch large debris but allow water to flow through.

And running a washer means the water coming out has to go somewhere.

The bunnies will need food and water or someone will report you- call animal control the day after the eviction maybe they can re-home them.

My questions for those with PCB properties near the water:1.

Michigan has no laws about appliances - not to be confused with mechanicals (furance & hot water heater).Your liability depends on what your lease states.Our lease states appliances are supplied for tenant convienence, but we don't have to fix them.Of course, tenants NEVER read their lease and alwasy seem to think they're staying in a hotel and a landlord has to do EVERYTHING for them.So, in realtiy, we fix appliances for good tenants so they stay.