Cost approach A straightforward method that adds the cost of the land to the cost of building construction.

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging. 

So you would spend around $25-$30k a month (this was 15 years ago) on police details and require union gate and non union gate if you had non union workforce as well.In DC area, the utility providers are a huge challenge, whether getting permanent power, or water/sewer service etc - good luck.

It's definitely challenging but there are lots of people doing it in Canada.

“I did this 5 seller a day challenge thing for $500 last month and they said they wouldn't be picky with proof of completion.

One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.

@Philip Beckwith typically in Michigan, you can only do a tax appeal in February.The instructions will be on the back of your winter tax bill.You will need to have great comparables to challenge the City Assessor's valuation.

I would study the listings from the top performing rentals in your area to see how they are overcoming any challenges with location.

The slow and steady approach is fine for this property but it feels like a waste to sit on a low performing asset and assuming rent increase is a strong enough lever to pull on for FI.

If the property was misrepresented in the sale documents, there could be grounds for legal recourse, though this might be more challenging after the rehab.In a similar situation, I’ve seen investors focus on maximizing their returns by operating within the legal limits (e.g., as a single-family or duplex) while still exploring long-term solutions with the city.