Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Details here- https://www.biggerpockets.com/renewsblog/2014/01/04/leveraging-really-risky/. 

@Gash Nookala,Renting can indeed be slower in winter, but here are some tips to boost interest:Enhance Listing: Ensure your listing has detailed descriptions and high-quality photos—consider professional photography if needed.Competitive Pricing: Double-check local comps; even a slight price adjustment or incentives (like a reduced deposit) could attract more interest.Broaden Marketing: Beyond Zillow, Hemlane, and MLS, use social media, community boards, and local business connections to reach a wider audience.Flexible Lease Terms: Offering shorter or month-to-month leases might appeal to tenants during this slower season.Local Property Manager: A local pro can tap into their network and help fill the vacancy faster.These steps should help you find a tenant despite the seasonal slowdown.

The best way to estimate expenses is experience and knowledge of your specific asset type and market.For vacancy, that will depend on your market and the quality/desirability of your type of unit.

It has sat empty for the last 20 years but the current owners have completely gutted it, have bids from contractors they're willing to share, cost estimates etc. and have had lots of inspections done and so much pre-work with the city and county to figure out what they can and can't do, so a solid plan is already in place.

I typically look at Zillow, centimeter and BP to get a full understanding of what rents are in the area to get the best estimate of what a property would rent for. 

I'm glad to help with info, or potential rental estimates for properties you're thinking about on the STR side.

Happy to help answer more detailed questions if you have any and best of luck!

Not calculating maintenance expense could end up being a nightmare.I always estimate (using either the 50%, 1% or square footage rule) the annual maintenance / first year of maintenance fees for a ALL rental property.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!