MHPs are an eyesore, and board members of every growing city can’t wait for a developer to bulldoze the park and throw up some condos.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Cities screw up all the time..

When it comes to housing, the FHA rules apply in addition to those of your state/city.

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Then progress to permits and then building.You could also just do it and hope the city doesn't notice, which they probably won't.Your challenge will be getting Certificates of Compliance on the units!

I live in the city and have a freakish map of it in my head that my wife is still shocked by when she gives me an address ("2100 block of _______Ave.?"

A and B neighborhoods typically don’t produce much cash flow and are more of an appreciation play—something the city has been seeing quite a bit of over the past decade.

I am from California, but lived in Peachtree City, Georgia last year (renting), and currently live in Germany as an Au Pair.

Welcome to the European tax environment :-)The US does not have federal sales tax, but we do have State sales tax and City Sales tax.