I'm originally from Michigan but now live in Mauldin South Carolina.

Hey SW MI BP members (and any others that feel like chiming in...)

I am from Michigan in the metro Detroit area so maybe you even work in that area too! 

Contact me about our growing inventory.Holds, Rehabs, Turnkey, great ROI

I only used the .8 mi because it was the most recent.

You need to check with the state of Michigan for your particular requirements.

Well, our first true rental property has gone on the market in Macomb, MI.  

Also, I'm finding that the 2% rule regarding rent and purchase price almost never pans out in our area (Southwest Michigan).  

New member, looking for a good flip realtor in Rochester Mi area.  

It would be great to get some feedback on what seems to make investment sense. and on whether it would be better to keep saving cash toward a down payment on a SFR or to buy something at a lower price point sooner.HI Erin,A quick break down for you would be:5% of 250k for 2 bedroom condo would be 12,500 so that leaves you with a 237,500 loan assuming you structure your conventional loan with lender paid MI (absorbing it through rate) around 4.25% you could have a monthly payment around $1168.35 + 300 HOA + 260.42 est property tax @1.25% annual + 40 estimated condo HO6 policy per month = $ 1768.77 per month payment cash out flow.Of the total $1768.77 monthly, $321.21 is principal and the interest and property tax portions are 841.14 interest and 260.42 for property tax.So if we assume you're in the 30% tax fed & state brackets and you took out that tax benefit along with the principal portion since you're paying down your own loan you'd be at a net monthly payment of $1,117.09.You can use that to compare your rent vs buy.Hope that helps.