We refinance in groups so this is easy for us. 

While the lack of income tax is a huge draw for many, I agree that property taxes can quickly eat into profits, especially for investors renting out properties.

I am curious how other people buy multiunits for owner occupied, since everybody will face the same problem that want to live in one unit and need to break a lease BEFORE the closing.Thanks for the help

While I am totally new to this venture, I am driven by a passion for investing and the potential it holds for creating financial freedom.

Buyer put down $125k plus $40k assignment fee for the 9 houses.

For the remodel I am thinking of extending the main home (which would make it "L" shaped") to incorporate the detached carport and detached bedroom/bathroom.  

I recognize that the CoC return is not as high as we'd like, but it does come with some built in equity (~$100,000)Details:- 3/2 Single family house (1487 sq ft) with a 1/1 ADU out back- Zipcode 78745- Purchase price: $469,900- Down payment: $50,000 plus CC (includes assignment fee)- Seller Finance $419,900 at 3.5% interest; 30 year amortization with a 15 year balloon- PITI $2744.02- Rental comps: $2667 for the 3/2; $1505 for the 1/1 - LTR according to BP (Total $4172)- Repairs needed - minimal, coat of paint and maybe swapping a window unit A/C for a mini split

I’m noticing that rent rates are surprisingly high compared to the somewhat competitive and affordable housing pricing.Single-family homes, some new construction are going for mid 300’s and rent is usually $2500 or higher.

My wife, Shelbie, and I have been researching about REI for the past 1 year.

I am looking for creative ways to finance a small apartment development in Michigan.