Newbie Investor Guidance - Detroit - City or Suburbs?

[Danielle Rosenscruggs]

My husband and I are looking to get into REI but feel a bit overwhelmed. We are hoping to invest around $50,000 - $75,000 (e.g., downpayment, closing costs, initial maintenance), would like to be somewhat local (we live in Ann Arbor), and don't want anything that would be a massive project (don't mind minor cosmetic improvements). We have been looking at SFH properties in the $250,000 - $350,000 range in Detroit (Bagley, Jefferson Chalmers, Piety Hill, etc) and some of the surrounding suburbs (Ferndale, Madison Heights, Royal Oak, Farmington Hills, etc). Still, we feel torn/confused about the city vs. the suburbs. We are focused on long-term appreciation, although we would want the monthly rent to cover our expenses (e.g., mortgage, insurance, taxes, PM) plus a small amount to put aside for maintenance. We'd also like to be able to charge at or slightly below market rates to help improve our chances of securing long-term tenants (we've had success with that approach in the past). We'd love to hear any advice folks have to offer! We don't know what we don't know, so any guidance is appreciated!!