I'm not an expert on Michigan but I'd bet you can still benefit from undervalued areas as a result while staying out of a Detrot gamble. 

I was told by the lady at the license & inspection that I have to pay until the property is sold or the owner has to live at the property.

She detailed how much she would pay on which dates and had a written plan to be current.Since she had been such a great tenant, I decided to gamble.

As you grow and suceed which im sure you will, you'll understand what im saying..When you can buy an old ladys home, she held on to for many years, but falls in love with her experience with your company and she introduces you to her Son who sells you his property...Then he just loves how professionally you handled yourself, so he introduces you to someone at his job, that has 4 properties hes looking to get rid of....And now you were able to wholesale 6 properties from 1 lead....Thats rapport...you'll get it...

Understanding how I'm going to track the success of my marketing efforts is important to me and ensures that I'm not just "gambling" my marketing dollars and hoping that I get lucky.Here are a few notes about what my situation looks like: I've got three lists I'm targetting - each going to a different local phone numberI will mail every 3 weeks with a slightly different letter / postcard each timeMy phone service provider (RingCentral) provides a call logI'm using Podio as my CRMHow are you guys tracking things like response rates, appointments set, deals under contract and conversion rate (direct mail all the way to done deal)?

So there's a little more of a gamble to them.

3 sets was what I was thinking 👍 but I will check with my cleaning lady!

If your rent to value ratio is below 0.9% I would stay you are gambling on appreciation and only competing with foreign investors looking to launder money and investors with much bigger pockets only looking for capital preservation at less than 5% a year.

A smart lady one said: Ain't nobody got time for that. 

Ladies and Gentlemen My partner and I are new investors and have decided to start investing in the Newark, NJ area.