Allstate has covered 2 water damage claims for me over the last 25 years.

I started using it as a STR 4 years or so ago.

Will get us a good bump in rents and added mini splits HVAC and removed the old in wall heaters that weren't very efficient. 

Carrying costs of $50K per year, wife holds her equity as a note DOS, and we sell in 3 years...I assume no appreciation.Purchase $550K (to husband), $550K note to wife, $270K sub2Year 1 $50K (PITI plus holding costs)Year 2 $50K (PITI plus holding costs)Year 3 $2M sale (10% sales cost, $250K sub2 payoff, $550K wife payoff) net ~$1M ($650K return of capital $350K profit)That should be about a 20% IRR, any appreciation or higher sale price results in a higher IRR.

I've used the same tax guy for over 20 years only because he does the taxes for my parents and their business.

The way Wayne County PA handles its OTC property inventory is to hold auctions four times a year.

For the first 2 years of my journey, I've made them all and fortunately, I've learned from them as well. 

Is this post too old to continue?

Hey Andres, I manage my 12 Detroit rentals from California.I use TenantCloud and have for years.

I'm not experienced in new build, but there have been plenty of infill construction projects over the last few years.