It's a more expensive market than the Midwest and the short term cash flow is lower and that is the trade off for being a few hours away in a landlord friendly state.

I pay in the area of $240 per month, but that will differ depending on the property.

It says "Profit = sales price - purchase price - expenses"  Even on the levered fix-and-flip deal example it gives the full purchase price. 

You'll also pay Spark's $59 membership fee 60 times, the LLC maintenance fee 5 times - $3.915 in expenses to use Spark as your "platform. " Net $1,085.

So I have an applicant who says she will pay 8 months rent upfront to get the house.

I'd also talk to the current owner, so if they want, they can let the tenants in that unit know.Hopefully you are getting their deposits transferred to you (it is the tenants' money and you will have to pay it back in full when they go because you don't know the condition of the unit when they moved in). 

Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B- These numbers are based on the “sweet spot” in Metro Detroit.

If it is paint, inside, perhaps but even then they pay rent and you pay them for the work they do.

I assume you have low-interest 1st lien mortgages on those properties that you don't want to pay off. 

If it were sold through normal real estate brokerage firms, we would have to pay 6% commission, therefore I deducted 6% from the appraised value to arrive at an adjusted value  of $436,160.