Central Phx with an agreement to buy it from a LOL (little old lady) for $340,000.

Hey Ladies and Gentlemen’s, I live in Louisiana but I’m thinking about buying some property in Detroit.

I’m especially curious because a few rentals were picked up by investors in my area at well over 25% above last year’s comps and I can’t help but wonder if they’re gambling on near term rent increases....or if they’ve just overlevered their way into non performing assets because of fomo.  

A team of two ladies (full of piss and vinegar), ready to take on the challenges of our development. 

Now I would have never rented to this lady based on my tenant screening but it is what it is. 

I think taking the risk and riding the AirBnB wave it's hot is probably worth the gamble..

But I feel like just letting her out of the lease really screws me over.Secondly, she is the kind of lady that has lived with all the finer things in life... so she has a boatload of stuff in that unit.

Also, was this actually a sheriff sale at the courthouse downtown where you fill out that purchaser form and give it to the lady on the stage with the laptop?

In the case of these units I asked the lady in town who collects the rent currently to manage for me.

That's quite a bargain.My cleaning lady just takes whatever cash she deems fit out of the rent whenever she has to clean.