Your experiences could be incredibly valuable, and I'd love to hear from those who have navigated the Detroit Land Bank landscape.

I did a light rehab which included landscaping, some new flooring, paint, and a rehabbed bathroom.

Of course you try to get as much covered by the tenant, but in Multifamily it is pretty common for the landlord to cover water, sewer and landscaping ( they can't rock, paper, scissors for who is going to cut the grass).

Zip codes are most helpful starting points so you could start there for the general landscape of the tenants, values, appreciation, rent to price ratios...etc.

I dont mean major stuff but atleast painting, landscaping etc.Its great you are thinking this way at a young age..Good luck

For example Ali, who is in the same type of TK referral business I think, had a recent blog post on her personal long distance TK property challenges, including confusing PM expense reports, multiple evictions, $1000's in turnover cost, going thru multiple PMs, current PM neglecting landscape needs, poor PM response times..etc.

Demo, Framing, plumbing, drywall, tile, finish work, re-finishing hardwood floors, complete bath gut, adding additional full bath, kitchen gut, landscaping, staging all done by yours truly.

We legally didn't own where the driveway came in, and we had done some extensive landscaping there, including huge boulders, etc.

You might have rehabbed it and renewed the age of the asset now, but if you hold the property for another 20+ years, you will have to put in those capex again, so you can back out a theoretical monthly capex to be "escrowed" from your CF if you will... for me that number comes out to ~220 a month for a 1000 sqft 1 bathroom ranch home, which covers roof, gutter, HVAC, hw, appliances, driveway, flooring, plumbing, windows, interior/exterior paint, cabinets/counters, siding, foundation, garage/fence, landscaping, electrical, and other components, basically a lite replacement cost calculation.

80k rehab does not cover outside the building, and the yard is a complete mess. a lot of concrete would need to be poured, new fence required, landscaping and grass needed, and as of now no where for anyone to park (old garage got turned into bedrooms) Not sure how much that would influence vacancy or value.They have permitting that expires in August, but he mentioned something about a failed inspection for the permit and that it needs to be refiled (Not sure what that means exactly)Very strange floor plan, not sure what the original owner was thinking with the layout, like he got greedy with the number of bed/bath.anyways, thats what i put together so far.