We can't just give someone X-amount without it corresponding to specific work, so when in fact this doesn't get done, our in-house construction team designed budgets as they saw fit. 

When municipalities use tactics to extract money from you that you have abandoned any hope of receiving corresponding benefits, you need to change your own tactics to protect your own interests.

Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenants: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Class C+ in Detroit you can still get for under $100k and rents are $1400+.Given Detroit is growing, if you have a knowledgeable source to pick the right neighborhoods, your buys could gentrify to Class B within 1-3 years with corresponding rental increases (and less tenant nonperformance issues)!

@Saeed Jassani appears you are not only comparing two different markets, but probably also two different asset classes.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

After completing an online form and following up with all of the questions and correspondence that was sent my way (including sending my proof of cash funds, account statements, etc), these folks let me know they were not interested in working with me. 

Especially as you accumulate properties , which makes the mortgage application more complex and time consuming for the loan officer due to the way rental properties, the corresponding mortgages and expenses have to be accounted for.3) Contractor: an investor will pay through the nose if they hire a general contractor or handyman to handle everything.

You can't make broad statments on what to buy at what price, without including the corresponding risk in the discussion.Remember the Great Recession 2008-2010?

Now I have a colleague that says we dont get inflation if there isnt also a corresponding increase in demand....but we have also a huge increase in demand, with a housing shortage. 

The 120 corners kinda made sense in the context of the property because it helped him take advantage of the truly kickass hillside view along the main living areas, but the corresponding 60 degree corners were just weird and pretty much useless.