@Andres Felipe Alba Hernandez Yes, neighborhood covenants can sometimes restrict certain activities, including short-term rentals (STRs) or renting out parts of a home, even in areas without a Homeowners Association (HOA).

If you sell, you pay closing costs, commissions, taxes (including depreciation recapture), etc.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

That does not even include the one or two deals that happen daily or weekly between realtors who know the buyer/seller and make a deal happen as almost an off-market deal.

Many include them constantly.

And typically long term rentals don't make it easy to include property management fees into the numbers and have them still work well.I would consider looking into STR type areas where you can avoid the risk of property damages (str and pm insurance covers almost everything that they might damage) and evictions/collections.   

@Kyle Kline“Investing for equity and not cash flow” doesn’t mean “buy properties that don’t cash flow.”To me, invest for equity not cash flow means that the PRIMARY reason to invest is for equity growth and an increase in net worth and NOT cash flow.I’ve been investing for over 40 years and while cash flow is important, it’s not why invest.A property must be self supporting ie produce enough cash flow to cover debt service, operational expenses including repairs and replacements.

This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

With this structure, lenders can offer more favorable terms, including lower interest rates, making your investments more profitable in the long run.

Always a good idea to include a tax accountant in your decision-making process.