Maintenance costs in Hamtramck and Detroit, MI

[Ken Bresser]

I'm looking to invest in small multi-unit homes in Hamtramck, MI. Typical homes in the area are built in the 1920's-30's and have 2-5 units each.
 

To calculate the numbers an accurate estimate of maintenance and CapEx is critical but has been hard to come by. One investor showed me his numbers and I was surprised to see that over the last 7 years he has spent 20% of gross rent on maintenance and CapEx. I had understood most investors figure 10% to be adequate.

Can anyone with properties in Hamtramck or Detroit tell me your experience in these costs? Thanks!