Hello @Hudson Filippi FHA does have a One Time Close construction loan that will allow you to build a home.

Get an estimate from a GC to get a good idea of what is required.Market Comparables: Check what similar-sized homes with finished basements or additional bedrooms are appraising for in your area.

I am looking for any guidance with a new venture I’d like to do which is group homes.

Purchase price: $265,000 Cash invested: $200,000 1930’s historic home with a converted garage.

How will they get back home?

Imagine a 4bed/2bath home with a small ADU in back, a converted garage with a private entrance, or a three-level home with a basement that can be converted into a private apartment.You can get privacy and house hack, but it takes a little more effort.

This is not a market for a generic, new build, cookie cutter home in an HOA neighborhood!

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Now, I’m rebuilding my portfolio while continuing to help others buy and sell homes.

I haven't seen prices drop too dramatically but I have seen homes in my buy box sitting on the market longer and some lowering prices.