(Layman's terms- newly built properties in the nicest areas)Class B: One step down from Class A, these properties are generally older than Class A, tend to have lower income tenants and may or may not be professionally management.

I live in Ann Arbor, MI and I am seeking a group of educated and seasoned investors.

I have 3 slightly older kidos and feel the pressure but if you can do it with 5 and below hey .. no  more excuses..Thanks for sharing; Congrats and keep pressing!

New construction is pretty straight forward...if it's renovation on an older property budget in 10% to 20% for unknowns.  

So, anything older than 7 years falls off. 7 years of taxes would normally not come up to more than the value. 

He is an older guy and lives away from the property(he bought the place for his daughter when she was in college in '05 for $99.5k).

You are 17 years old, with no experience.I would get my license and learn how to list.Learn your property laws as far as leasing.Be a realtor assistant for a seasoned agent.Try Keller Williams or REMAX Or work at a title company, learn about closings and title issues.All these experiences will help you win.

So the next time she went in she told them that they were buying the home for her mother in law as a surprise since she is getting older.

@Isaac Ramos,Because your buyer is using conventional mortgage financing you want to check and verify what the lenders "title seasoning" requirements are. 

We want to take older places and make them look like they were straight from Sweden!