Tenant agrees these detectors are in working order and agrees to periodically test and maintain the smoke detectors and keep them in working order.

For reporting missed payments or debts, you’d likely need to go through a collections agency or become a data furnisher with one of the credit bureaus, which comes with setup requirements and compliance rules.

I am interested in using these funds for an alternative real estate investment strategy outside of long term buy and hold rentals (tax lien, air bnb arbitrage, commercial, data center). 

@Chabelis Alegria our data is showing 2-4 unit properties are taking longer to rent in the City of Detroit than SFRs or apartments (5+ units).This is not the case in the suburbs.Supply is the obvious reason, which you can only address via pricing/incentives.

All data was pulled via MLS sourcesSales Market OverviewMedian Sales Price in April 2025 reached $380,690, up 4.7% year-over-year.This follows a modest increase of 1.0% from 2023 to 2024, reflecting a positive upward trend in home values over the past two years.Rental Market TrendsActive Rentals rose from 111 to 127, marking a +14.4% increase, suggesting growing inventory and investor interest.Leased Properties declined 15.6% (from 956 to 807), indicating potential softening in immediate rental demand or longer leasing times.Average Monthly Lease Price increased 3%, from $1,896 to $1,953, showing continued upward pressure on rental rates.

Loans to LLCs often require:Higher down paymentsHigher interest ratesCommercial underwritingMore experienced borrowersSince this is your first deal, buying personally keeps your financing options wide open — especially when it's time to refi.You're asking the right questions, and this "test drive" approach with your first BRRRR is smart.

So, we obtain a full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc. to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions, and sex-offender histories.

I am extremely proud to share that, by our estimation, we have achieved and far surpassed this $1 trillion objective.Among the 3.15 million members who have cumulatively joined BiggerPockets, our survey data indicates that 29% (913K) have reached millionaire status.

If you believe you'll have losses, you could adjust it or you could work with a cpa and do a tax projection once you have a couple months of data on your rental property.

It might feel a bit old school, but it works.Another thing we’ve been testing lately is Facebook Ads.