I have never turned a unit that didn't need some work: paint touch ups, deep cleaning, maybe some capex items.  

Quote from @Mary Jay: Now she says that if I dont return her deposit she will sue me.My advice: take a deep breath and be reasonable.Tenants threaten to sue all the time, but rarely do.

This deal was attractive because although it was occupied by squatters at the time of purchase, this allowed us to get a deep discount because no other investors were willing to take the risk of deal with a tenant holdover.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

The other two big malls in the PDX metro seem to be doing OK.. the one on the west side of town is owned by the Singapore sovereign fund so they they have deep pockets and with the social unrest in Portland there is now a push to the suburbs which is a major shift from 10 years ago..

To have a deep knowledge of the market is a headstart.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

@Rick Petersen the thing that jumps out to me about your post is not the numbers, but the fact that you said you're new, and this deal is multiple MFs with 40+ units over multiple towns...that's certainly jumping in at the deep end.  

You should be guiding the boat or you should connect with a mentor who can get you to the shallow and deep water until you ae able to swim on your own. 

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!