Quote from @Lauren Olicker: Thankfully, all of these grand assessments are now levied, and those selling have either paid or will pay them at closing. 

It's essential to stay adaptable, continuously learn, and improve your underwriting process to avoid surprises and maximize financing opportunities.In summary, evaluating deals requires a deep understanding of underwriting templates and loan types.

I paid 600K (appraised at 700K) for this place and only brought 8k to closing with me personally since I also got a commission.

I know a lot of hard money lenders stay out of Detroit but will do DSCR there.

We like to provide owners with different options for updating/renovating so that they can stay within an investors budget.

However, if the occupants stay for less than 30 days, the rental is typically considered a short-term rental and subject to different regulations.

Agree they are both tenants and you can't keep it from the other tenant.If she gives notice you can send them both their own move out letter which would give him a chance to react.Agree the other one can stay if they want to and qualify.We always designate one tenant as the primary, in the lease, and make it clear that they are the decision maker. 

Unfortunately some of these costs are fairly close to fixed whether you are renovating a $250,000 or $5000,000 house which makes it even more challenging to operate in the lower cost housing space.

If it is locked, your rate will stay where it is at for 30-45 days (depending on the lender). 

We are a vacation area so all rentals are doing well but I second the trying MTR furnished rentals and limit the stay to whatever gets you around any STR taxes you may have.