I also plan on developing an ADU to permit 2 + beds 1 bath unit and community improvements such as installing solar panels, specified parking areas, common areas, a community garden (for tenants only), and rehabbing each unit to force appreciation.  

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. 

Prior to this I’ve lived here around 6 years and always paid my rent on time faithfully and plan on setting up auto-pay to avoid any discrepancies in the future but I honestly can’t afford to just give away an extra $370 if I don’t owe it.Any insight into the discrepancy would be greatly appreciated.  

I do plan on getting one more home in MI to be a rental (1 primary and 1 rental in MI LLC), I will use them the same way i did this AZ home.

I always run my STRs with LTR rents also, as my back up plan if cities change permits or cause me to switch to LTR 

Good luck, I will be happy to hear from you if you proceed with your plans!  

Right now, I sit on about $60k reserves and operating expenses (I have other reserves for other business/life) and if that $60k dips down I let it fill back up, and as it starts creeping up I add to my "next purchase fund"- Yes, cash flow is lower and harder to find right now heading into 2024...but it's still out there.

For regular or backup cleanings!

Unfortunately the company I am leasing through does not allow extensions as that was actually my initial plan!

https://mioym.com/Who are you planning to sell your fix & flips to in the Detroit area - investors or owner-occupants?