Four of the major criteria they consider when selecting a location are:Low crime: Companies are unlikely to establish new facilities in high-crime cities.

You could get in with an established company that is looking for help.

Conducting tenant reference checks is crucial for ensuring you find high-quality tenants who respect your property and pay rent on time.

If your looking for the least amount of risk and biggest bang for your buck I would look for a company that is a reputable turnkey provider thats actually in Detroit and offers things such as an efficient boots on the ground team, all sorts of established local relationships, solid in-house management, an operation that is highly skilled and well versed in section 8, a company that has proven relationships with both out of state and local lenders.

With any tenant, treat them with respect, but if they are in violation of the lease for whatever reason, you need to tell them and if they don't stop, then get rid of them. 

Also, improves your position in pricing should rent prices turn bearish unexpectedly during your vacancy time so you can be flexible in pricing in negative economic environments.Con's are more on the side of the whole concept of using the long term locked-in period with the bank essentially utilize inflation to 'short the dollar', as well as the more rapid diminishment of the mortgage interest paid tax advantage.All in all it is safer in a lot of respects to get to that property free and clear, but the major downside is missing out on the additional value that is derived from the power and monetary benefits that come from having a healthy expose to mortgage and other forms of financial leverage.

I know I will have to report the LLC’s profits but I’m confused as to how to handle the draws with respect to the IRS.

We are in a place where cost of new construction is just about to come at par from buying established .. the build costs for an average 4 bed 2 bath house with undercover area of 200 sqm or so is presently sitting at 400K AUD this in addition to the land costs.

Most enticing is it is located on a very well established street with a wall score of 92 - lots of restaurants, bars, shops and a park nearby.

But 4th, 5th, 6th, 7th, if done right, showing me serious, dedicated, INVESTED, well I think that would turn the tides and at some point I'd gain enough belief and respect for the effort, I'd give em a crack.