This strategy should also protect the downside a little better by offering a larger pool of buyers in the future.The way we try to claw back the cahsflow/equity is by targeting short sales or wholesale deals that may require rehab but are priced well below market value.We are not reinventing the wheel, simply implementing a tried and tested method.

I hate to put carpet in simply because I hate it myself and also because I feel that after 2 yrs it will show some wear; I know tenants are never as careful as owners with properties. 

(DTW is the Main Airport) rent a car, get a hotel, visit any suburb you want to, without ever entering the city of Detroit.) 

I've been considering other up-and-coming areas, but have been concerned about my safety doing so, particularly after a tour a couple of weeks ago with Joe Calloway turned up a squatter in one of his properties that we were in, and his saying that he now requires two people to enter any of his vacant properties.It's also great to see other Marin denizens, and other "boomerang" kids!  

Simply click the box in the upper right corner of the post!

They are going to be a long term partner, so treat it as though you are interviewing an employee for your company.You could also do another post in Bigger Pockets, that is not quite so long ;) that simply says....Hey anyone know a good RE Attorney in {insert your area}?

Hello,I am new to Bigger Pockets and when I logged on yesterday and went to networking I entered my postal code and about 3 people came up (not many Canadians in my area on this site) but there was still a few.  

Unless you think the parents are in severe financial distress and simply don't have the money, I would think that paying their kid's rent while the kid is at university is pretty high up there on the priorities list.I am imagining how the late rent scenario would play out:  Student calls mom and dad crying, asking "I'm getting evicted right before exams because you guys didn't pay the rent???"  

Now, the income will pass through and reflect on your tax return, but it is still safer to use your business account and simply less hassle is all.

However, if the late payments still bother you that much by December, then either do not renew the lease or simply impose stricter penalties for paying late.Does your lease contain a late fee?