If you're interested feel free to give me a call and I can try to answer more of your questions. 

Any current rental property owners that can give me details on the cost of rental license and inspection fees in Lansing, MI?

The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.

interest buydown, home warranty, closing cost assistance and seller realtor can offer bonus incentive to realtor that brings buyer . another option is to rent and refinance it 

I have about $100k available for down payment, closing costs and I'm hoping to have some left over for reserves.

Please feel free to reach out to me directly if you would like to discuss!

Putting some money down will help you reduce costs.. 

Feel free to ask anything additional if you need.  

Lessons learned are that it is a 24/7 job and a lot more work with a lot less free time.

AND textured for $2,000.Drywall guys like to tell you that texture costs more, but keep in mind that it actually costs them LESS to provide texture.