There can be many benefits to buying income property. Investopedia states that some income properties can be included as part of a retirement plan.
Forbes states that parents purchasing a home in a college town for children to live in while attending college may be a good investment verses paying for their rent. It can remain an income property after they graduate or serve as a home the parents will eventually move into. Claiming a depreciation deduction on federal income tax is a great benefit when owning rental property.
Rental Housing was researched and a report published on America’s Rental Housing: Evolving Markets and Needs by the Joint Center for Housing Studies of Harvard University.
An Ann Arbor Income Property currently listed by Reinhart Commercial’s Bela Sipos is at 1700 Packard. This great 2-story brick building is located in the Lower Burns Park neighborhood. It has two (2) bedroom units on the 2nd floor. The main floor was an office and the best use would be to convert it back to residential. Includes an ample black-topped parking lot at rear of building. Newer roof, windows, furnace, and doors.