Investing in SE Michigan (Detroit, Ann Arbor) and suburbs

[Maxim S.]

Hi Everyone,

I am in the following situation: I work in Ann Arbor, MI, have a stable job in IT and everything is fine, have family with kids. I pay about $2300 in rent monthly and plan to spend about 2-2.5 years in the area and then will, probably, move South (NC). I am thinking about purchasing a property in SE Michigan (Detroit, Ypsilanti and surroundings) this winter, which will be my primary residence for the time-being (2-2.5 years) and then sell it or rent it out. I can put down now about $30K. As I am a newbie to RE, I decided to ask for advice from respected community:

What would you do in my situation (for the course of next 2-2.5 years):

1) Rent for the following 2-2.5 years and try to save money;

2) Purchase a property, which needs rehab costs to make it livable and move there;

3) Purchase a SFR with 30-years mortgage.

4) Do something else.

Any advice is highly appreciated.

Thank you.