Majority of americans live paycheck to paycheck and the increased rates from last year will finally start making their way through the system.

This had me thinking last night (prior to reading your post), that I have a friend who is an investor and owns a few properties etc. but spends a lot of their time traveling from conference to conference getting "education".

My worst case scenario became a reality last night.  

Actually after depreciation at the end of tax time in the end of the second year I will have made out big time. 2 properties will not get increases and the last 2 properties will get rent increases because they are very far under market rates.

I'm a Realtor also and helped two buyers purchase homes literally 3 and 6 houses away last year so I had some confidence in the values over there.We rehabbed it as if it was a flip for max resale value and can always fall back on that as Plan B for a decent profit if the Airbnb does not work out even if we lose on the furniture.Plan C can always go to mid term rentals since it is furnished but I don't think it will come to that.

Hi Jonathan,No shame plug here 😁We have been operating a turnkey company with in-house property management in Toledo (45min from Detroit) since 2014.Here is a thread about us so you can see the good, bad and the ugly over the last 10 years - https://www.biggerpockets.com/forums/92/topics/185261-ohio-c...With that said, I love Detroit and have always seen a tonne of potential in the market.Wishing you much success 🙏👍

Since my last post my partner ( Sarah Godbold , she just registered on BP ) and I have set up the necessaries and have taken control of the property ourselves.

Last month, the electricity bill for my 1200 sq ft townhouse (mid-term rental) built in 2002 hit almost $400!

If you haven't seen it already in your area, midwestern investment groups (The big guys) are just starting to catch on in the last 2 years as more 100-250+ unit buildings are going up in these towns.

I just did something similar last week but it took 4 business days .