I was lucky enough to find a property just a few blocks from my TK purchase that was in excellent condition, fully tenanted with two units, passed the inspection with flying colors and is grossing close to the 2% rule.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Pete Beach has varying STR rules in different areas, and each condo HOA sets it's own stipulation on 3, 7, 14, 30+ day minimums.

Compare that to Vegas, where rules can be restrictive and condo-hotels often come with sky-high fees or limits on how you can use your property.

Asking in the correct forum will get a better response.Read the RULES!

If they're serious, I encourage them to send me the request which I accept (after I've also made our House Rules clear).

We still find deals here that meet the 1% rule, positive cash flowing, and have tons of potential for appreciation.

Rules for contractors NEVER use your money to fund a customers project ( unless you hold first lien position and charge interest )If the money stops , the work stops .Put everything in writing .

There are a few other options as well that can be taken to escape the FHA to Conv. 12 month rule.

Note with the current rules, I never plan to pay taxes on the appreciation.