A rental market analysis (RMA) helps you assess the investment potential of a property within a target area. When conducting a rental analysis, you follow a simple mathematical equation:

• Figure out the adjusted price per square foot of comparable properties in the area.

• Multiply by the square feet of properties for sale. 

How does this simple equation help? It helps you determine if the average rent in the area is higher than the average price of any available properties. If so, then the market is favorable.

Owning property in Detroit Metro doesn't mean you have to live in the area. Some of the most successful landlords know that purchasing rental properties in hot markets grows their income--no matter where they live. 

Property inspections might seem like a hassle. In reality, skipping inspections can be a costly landlord mistake.  Your rental properties are an ongoing source of income for you. Keeping the properties in good shape is critical. 

To keep up with routine maintenance, repairs, and damages make sure property inspections are part of your regular landlord duties.  If you're not sure when to inspect or what to look for, here's a quick guide to rental property inspections.