I'm gonna keep this short and simple: If you want free leads of absentee owners follow this method..if you know your market: go to gosection8.com and text all the landlords on the site something like "I see you own a property on 123 street I'm looking to invest in the area would you be open to possibly selling a property?"

I keep it simple.

It's never a guarantee with higher-end or lower-end tenants, but your risk of a bad tenant increasing as the quality of property decreases.

So when it came time for the lease renewal, we got an attorney to make us a strong lease according to michigan's state laws and handed her the lease, the price increase to $1100 plus $50 for the pet if she wants to keep it.

My father is in the real-estate game and with the previous experience I got, I've realized that this is definitely something i enjoy and would like to pursue.For the passed 3 months I have been concentrating on increasing my real estate investing knowledge daily through books (7), many podcasts and articles as well as youtube videos.

$200-$300 cash flow is a good number after all expenses but I would find a way to increase your COC return. 8% is pretty low but if you can find a way to have less of your cash into the property, your COC will be higher and you'd have more to invest in other properties.

My strategy would be to hold onto this property for 20 years while my parents receive the income and then cash out when the market is right.Rent: 8% gross salesCap Rate: 6%Base Term on rents: 11 years with 3 10 year options.In my projections I'm assuming sales increase 1% a year below 3.5% inflation.Using this conservative assumption IRR is close to 9.5% over 20 years (assuming an exit value with 7% cap).Does this sound like a good investment strategy?

The unit rent is likely to go up in the short term increasing the cash flow. 

If i had to pick it would be under 2M$.Im looking to get properties at a discount to rehab and increase their value.Any other major details i should specify?

As for financing, assuming you have a relationship with a Bank, it's fairly simple to get a pre-approval letter for financing.