Your Detroit cash flow property criteria?
I am new to the market, but see a lot of potential for my self with apartments and single family.
I was curious for people already invested, what is your criteria for a cash flowing property here?
Specifically interested in 1-4 units, but also single family.
What areas are no good, which areas are?
What is the purchase price/repair price you look for for the most cash flow as a general rule?
What is the expected rent on said property?
What % of rent goes to short and long term repairs on said properties?
What type of tenants are you getting in these properties and what issues do you face with them?
What type of things make a property a "NO" for you?
Is there anything for a out of state investor should look out for?
I am extremely interested in networking with this forum and branching out into the market this year.