Newbie in Detroit metro seeking advise and information on my area

[Nicholas Basar]

Hello, my name is Nick, I'm just starting out at 20 years old and I have a goal in mind of $1,000/month passive income from rental properties in the next year. This may or may not be over ambitious, but I would like to get some advise on achieving that goal.

I currently have $25,000 in cash to invest, my location is Detroit metro/Pontiac area and I'd like to keep it around that ~15mi radius. Realistically, what kind of loan can I expect to get approved for with a low income of $2,000/month and an average to good credit score (just under 700) that has no real issues but only 6 months history? I have no debt at all. I've applied for a pre approval at my credit union but will not hear back until after the holiday.

I'm considering a SFH but I'm concerned with the condition of many of the more affordable homes in my area. Should I avoid homes of a certain age, such as 50+ years old? Older? Newer?

Any advise/information from investors in this area would be hugely appreciated