His response "who cares the landlord will pay for it" was not what I wanted to hear.Be careful with vendors and rental property, some do not realize or care that a real person has to pay for their services.

Is it a landlord, a rehabber, owner occupant etc....Value is going to vary on the type of property and end buyer you are dealing with.Contacting a realtor to find out comps is a great way to get an idea of what the conditions are in your market but you will also need to get out and network with the people (actually doing deals) you plan on selling deals to find out what they are looking for.

For those who are landlords in Michigan, what has been your experiencing renting out property?

You need to know your market, occupancy and competitive rent rates, renter expectations, your goals, risk tolerance, temperament, and your resources.You need to know your local tax rates, state/local landlord rules, housing authorities, insurance sources, financing options, occupancy and employment trends.There are crazy tenants but effective management can minimize the risks.Good luck.

All of my friends laughed at me when I said I wanted to grow up and be a landlord.

Water at 125 per building sounds very cheap and understated.I can tell you when the landlord pays the water bill tenants take LONG showers,do not report leaks (running commodes,bathtubs dripping,washer leaks,etc.) and they let others was cars and use their washer dryer for clothes.125 by 4 is 31.25 a unit for water each month.I would demand the actual water bills for proof for the past year.If it's built in 1971 what about the lead based paint EPA renovation rules??

. -------------------------------------3)(a) Upon the vacating of the premises for termination of the lease, if the LANDLORD does not intend to impose a claim on the security deposit, the LANDLORD shall have 15 days to return the security deposit together with interest if otherwise required, or the LANDLORD shall have 30 days to give the Tenant written notice by certified mail to the Tenants last known mailing address of his intention to impose a claim on the deposit, and the reason for imposing the claim.

I am a investor/landlord looking for great multi family buys in Union county.Welcome!

The reason there are so many great buys right now is because so many people over-leveraged (especially landlords in my area) in the mid 2000's.

What game do you want to play - that is the question you must ask and then learn how to do it in and out.If you intend to be a landlord (based from your post), you need to understand landlording and more specifically, operating expenses and all expenses associated with rental units.