If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Long term RV for working adults and professionals is our sweet spot. 

Great question—and I think you’re spot-on about that fine line.

I am very familiar with the island, but I am curious on how airbnb's perform outside of the summer time in a vacation spot like this.How has it be going for you so far?

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Quote from @Seth McGathey: @Christina Venegas I think the tough spot you are going to be in is that you don't have that much extra on top of your original down payment yet.

You’re in a great position with high W-2 income, and your motivation to invest for cash flow and tax benefits is spot on.Since you’re just getting started, I’d actually encourage you to consider long-term rentals (LTRs) over short-term rentals (STRs) for your first deal (this is coming from my own personal experience in owning STRs).

I remember being in the exact same spot after bingeing BP podcasts too.For expense tracking and rent collection, I started out using spreadsheets, but that got messy fast.

@Brian Eastman provided good feedback on your inquiry and is spot on. 

There used to be a spot under the "Find Deals" tab that I liked when looking for property.