Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

Hi @Briley Roe,Is this the loan estimate or initial closing disclosure? 

While time consuming, I did learn a lot and was within $2,000 of my initial budget.

Hi ALL,Can anyone recommend a easy to use property management tool that we can use, so far, we have 4 rentals and growing, We will like to have better control of the information and have a easy system for tenants to pay rent.As always, thank you for your input!!

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

It seems to me that any addendum signed later after the initial lease may create a messy situation. 

(It doesn’t pay its own taxes.

Now, you need to figure out how to find deals and pay for them.

The perceived value may be more, because you know an STR was run there and making money, but a lender wont value it more.While I agree a lender probably won’t value it more, an investor interested in running it as a STR will pay more.