Prepayment penalties- usually 1-5 year terms.

It's a good term that you really can't explain any other way. 

On top of that these markets have done very well in terms of appreciating in the last 5 year (See Memphis 50% increase, See Detroit 100% increase).

I’ve been considering this for a long time.

I would first start looking at the various strategies for saving massively on tax, mainly the short term rental loophole and real estate professional status and then decide if these strategies align with your goals.

Any advice on strategy for multifamily properties would be helpful in terms of narrowing them down, and areas in Michigan to look in.

Is it because the rent ready’s are taking too long, or we have very little turnover.

At least half are not actually here to learn, they are here to get just any random person to validate their idea of success in the short-term.

Some are more friendly on terms and have more leeway.

Why do you think purchase contracts are so long and have such small print?