At least that is my understanding of how that works. 

Focus on understanding the rental market, conducting thorough property inspections, and leveraging owner-occupied financing options like FHA loans.

In either case, the longer a property remains on the market, the more motivated the seller often becomes to offload it.Savvy buyers understand this and often target properties that have been listed for three months or more.

Now, take some time to understand the local market.

You will want to fully understand the tax reporting burden you will face. 

I could take look at it for you, and help you understand it if it's a standard lease, no need to pay me, although I am not a lawyer.  

That is subjective though - I just advise my exchange clients to understand that number and understand their exposure.

A straightforward way to estimate value is by looking at the price per square foot and using that to calculate your property's worth.In situations like this, it's worth spending a couple of hours yourself to get a solid understanding of the market.

It helped me to do more research and better understand that I’d like to buy property elsewhere and rent that out, rather than renting my current property.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!