I would say take a deeper dive into the nearby product and see if there is a premium in rents for a duplex unit versus an apartment.

Trust me, there are no dumb questions—especially when you're diving into something new.

Wis Dells is a prime location for STRs to be eventually banned or very highly regulated given the large resorts with deep pockets and a lot of influence. 

@Jeremy Beland My good friend and I started to dive into wholesaling and started taking action.

Should I hold off on diving in the market to buy now?

Disappointing to hear that the 8s are high, but at least the numbers still cash flow and we're in deep on this deal, so I'll consider my options here and consider what a re-finance looks like later.Appreciate your input guys!

@Gagandeep SinghYou might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorseOur analysis is a template you can follow for any city.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

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