Be as detailed and specific as possible when mentioning your future plans, current operation/experience level, ongoing projects, etc.

We own a primary residence and plan to stay here (house hacking is not for us), and have been saving scrupulously for the down payment of our first investment property, ideally a 2-4 unit multifamily. 

There is typically a 10-20% margin between assessed values and market values with 1-4 unit properties in the Twin Cities - but if the property you're offering on has a larger than normal gap between the two values, plan on some increases in the following few years.

If you are in the 22% tax bracket - that $18,348 is a savings of $4036 in taxes owed just on depreciation - not to mention all the other expenses... property taxes, insurance, repairs, etc.  

I am not planning on driving the routes - would need to have a manager & dispatcher while having trucks and drivers actually drive the routes and deliver packages.The businesses seem to be quite strong cash-flow-wise but I'm not sure if it's a good idea to get into this business.Would appreciate any feedback on this.Thanks.

@Ryan Sweeney @Ron AngelThere are providers of both checkbook IRAs and Solo 401k plans that regularly post to these forums.

Hi, I am planning to buy rental property this year in Michigan.

If you're set on investing out of state, I'd recommend reading this article by David Greene for starters: https://www.biggerpockets.com/blog/core-four-real-estate-tea...If possible, it's a good idea to visit the market you plan to invest in to familiarize yourself with the area and it's also a good way to network.

We do plan to remodel a bath which would not be possible with a tenant living there.  

basically everything that is installed when standing in a structure with only drywall up) and saved ~$30k.