Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

In locations that don't attract high credit score applicants you are more likely to get tenants that will struggle financially, those that will insist that the security deposit should count as the last month's rent, or those that willl tell you to get in line if they can't pay or cause damage.

Welcome to the group.Whatever your investment path may be, two key pillars, tax planning and asset protection, are often overlooked, yet absolutely essential for building a sustainable and successful portfolio.It’s easy to focus on the thrill of closing deals, but without a solid foundation in these areas, your long-term success may be at risk.

Investment rates have improved over the last week and are expected to get better into September!

Harrison,You're on a smart path, house-hacking and scaling up with an eye for local opportunity is solid.For rehab analysis, read The Book on Estimating Rehab Costs by J.

I am a landlord of one property already for 3 years. it is a long term rental. but I am looking to acquire a second property. if anyone can offer advice or help I would appreciate it.Thanks

Start immediately with small, reasonable rent increases and plan that it will probably take several years (depending on how far, how long, that you have been asleep at the wheel) to get back to the average market rate in your area.....

Quote from @Casey Oleynikov: I would be careful in this current market on adding too much value, or pushing the money too much on a rehab because the market has more inventory so that added value might not be added value in the buyers eyes.

It keeps things streamlined, especially with long-term tenants.As for the security deposit, you are right to revisit that after 10 years.

In the last three days I received 5 colleague requests.