This is not related to rental property.

First, for a rental, should we just go with very basic cabinetry, perhaps from IKEA or is there anything particular we should watch out for or look to get?

Purchase price: $49,000 Cash invested: $3,000 We purchased 5 acres with no deed restrictions or HOA and continue to build out rentals/lots on the property.

This should eliminate the homeowner (1) selling a property while remaining liable for the note (subject to), (2) tying  up his property with a “buyer” who has no intent to close unless he finds someone to pay a higher price (wholesaler), (3) paying above market rental for an option to buy that can never be exercised (4) purchasing a property from a fix n flipper who did shoddy rehab, (5) purchasing a property with nebulous legal title, (6) contracting for home improvement with a fly by night contractor who then puts a mechanics lien on the property and (7) “listing” with a wholesaler disguised as a Realtor who doesn’t put the home on MLS. 

MTR is great, but there will be long "orphan" periods in between bookings, which leads to lost revenue.My advice, stick to areas that are more STR friendly and blend the rental strategy for maximum income.

More about this in IRS 523Even if you qualify to exclude part of the cap gain under Sec 121 you are still required to pay Depreciation Recapture on sale (not the case with 1031 Exchange)1031 ExchangeOnly rentals are eligible for a 1031 Exchange - this is good news for you.

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

Hi BP! I’m a new investor, looking at a potential duplex of 2601 sqft total (3 bed/1 bath each unit). The downstairs tenant has been there for about 10 years and is a smoker. Does anyone have any insights of how much ...

I would not charge install fee.I have one rental property for about half a year no  so I haven't had to deal with any move out procedures or getting a place "rent ready" since my house hack is a new build but how did you create your "move out instructions" and are you supposed to paint the whole inside every time a tenant moves out? 

some complexes are grandfathered in and can do nightly or weekly rentals but there are few.