Detroit Multi Fam

[Barak Amar]

Hi All! New to this site. i own several properties in the North Los Angeles area and been out of the market purchasing new properties because of high price entry points. i am considering on investing for the first time out of CA and thinking about Detroit MI area. i am interested in several 12 unit apartment building fully occupied. Prices for 12 unit apb are half of what a small condo cost and income on paper is unreal. what's the catch? we talking about 12%-20% cap rate. what should i be looking for? is this the standard out of CA? what am i missing here? any response will be appreciated. Thank you!