Where the problem happens often is using short term or floating debt and paying a premium and when upcycle stops and the dip starts the property owners are toast.

https://treas-secure.state.mi....some things to keep in mind:-Non owner occupied properties pay 18 mils more in taxes in Michigan - Even with the SEV you should plan that the SEV will go up.

However, even with this delay, there is no indication that rates will be increased further, which provides some stability for investors, homebuyers, and business owners looking ahead.What This Means for the Housing MarketHigher interest rates have undoubtedly slowed the housing market over the past year, but demand for real estate remains strong, particularly in growing metropolitan areas.

Good pro tip is to not tell the tenants you're moving into next door that you're the owner but just affiliated with the property manager.

Mystery and fear intermingle into the minds of investors when it comes to properties that are distressed.

Heck I bought a “four plex” where there was an “owner’s storage area” exactly the same size as the other 4 units. :-). .  

- how much cheaper is it to rent than to live in a purchased property? 

The approach involves using a hard money lender (HML) to fund 75% of the purchase price while having the seller carry back 25% in a second-position loan, allowing you to flip the property with little money down.

Also, what is the equity in the property?

I certainly know that future years the expenses won't remain that low, but wouldn't that be a reality on a property that has a lot of recent improvements?