This type of strategy works really well for people who worked at a company for a long time and whose stock did incredibly well.These are concepts even financial advisors get tripped up on so feel free to clarify anything that doesn't make sense or if you want to give more specifics I can give examples and math.

Hi BiggerPockets Community, Specifically Our Rookie Real Estate Investors!

I was wondering what you, as local landlords , have done or know about these rules and regulations?

In this industry people WILL manipulate you.

Hey Jesse, with 1-4 units, it is the industry standard to value the property based off the sales comp approach, however, you can qualify the property with booking history or AirDNA with a DSCR lender that specializes in short term rentals.

Just wondering what everyone's thoughts are on the pros versus cons of each scenario most specifically if it came to them not paying rent or needing to be evicted.

(Someone to receive notices on your behalf)Residential income properties need a Transaction Privilege license in most locations (Rental Tax)Property Management is a specialty in the industry and it's very possible your sister has her license with a broker that doesn't allow her to do property management?

The suburbs are great and there are some specific tools to finding up and coming areas in the City.Metro Detroit has what 99% of Real Estate Investors want.

I want to look for mentors and make professional connections to those in the industry to gain an intellectual advantage.

And they're starting with a lot of construction industry experience, most of the time.I'm not saying it can't be done;  just be prepared and financially able to put in more than you expect to on day one.