I also take in consideration the square footage around the community and the rent.

Change of ownership can already trigger tenants leaving (i.e. vacancy for you) and if you're only talking about $25/month each, that's very minimal.

If so, below are general considerations: If you are self-employed with no full-time w-2 employees, you can set up a Solo 401k & rollover funds from a non-Roth IRA as a tax-free direct rollover and then invest in real estate.Solo 401k vs.

Any advice or considerations would be greatly appreciated!!!

So for now, as I get more educated and more certain about what REI actually looks like and could look like for me, I’m also focusing on eliminating all of our personal debt to prepare for future investments.I think this should give a pretty basic overview of where I’m at in life and in my investing journey, and I look forward to being more active in discussions here as I move closer to pulling the trigger on my first investment!

I would stay away from Lansing, not enough growth there and I could never pull the trigger to buy some multifamilies there, just felt more stale than other MI cities.

So this whole question about STR's comes from a recent conversation I had with @Brian Gerlach that just got me wondering if I'd even given a serious consideration to STR strategy in the area we're looking at.Thanks again for your thoughts!

Congrats @Ashton Levarek for pulling the trigger and not getting stuck in the analysis paralysis mode.These are all great options to start out for those who want to manage multifamily properties full-time eventually. 

Can you provide an example of what you take into consideration when determining the ARV, offering price, and/or cost of repairs?

We also own in warm climates currently so don't have many of the considerations that we would have up in MI.I've considered looking into properties near Lake Michigan, but have been focusing more on FL and CA as of late.