Full disclosure - I already posted here a couple of weeks ago, but got locked out of my account.

Here's the full bill for those who are interested: https://marei.org/kansas-city-missouris-source-of-income-ord...

Not allowing pets is a legal selection criteria, unless the person is requesting a service or ESA animal under fair housing, in which case, if they and you qualify, you'd have to permit. 

I am a licensed real estate agent, however I am not with a broker.

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

I've already spoken with a property manager and agents, but I'd like to hear firsthand experiences from other new investors in the Detroit market, especially within the first year or two of their initial investment.

Hi Everyone,I am a real estate agent and a beginning investor on the west side of Cleveland, Ohio and I am looking for a solid seller financing contract.  

I'm looking to explore Multi-Family unit investments with the hope that I turn this into a full time gig.  

I’m a local investor and licensed agent here in Birmingham and also work in property management, so I’m involved in deal analysis on a daily basis!

Hi San Antonio Community,I'm Eddie, a 22-year-old Non-Commissioned Officer with over three years of service in the US Army.