Investment conditions in Ann Arbor MI targeting single family homes

[Alexandre Popp]

Hi! I'm new to BiggerPockets and looking to start my investment journey in 2024.  

We just moved from California to Ann Arbor to be closer to my in laws, and are in the fortunate position that we can start making investments in the next six months. I'm still polishing my investment thesis - for now, I'm doing research into investing in B/C+ single family properties (to start) in Detroit metro area to buy and hold as to generate cash flow. 

I was curious to get this community's thoughts on the Ann Arbor rental market - based on my high level understanding it sounds like asset appreciation for single family homes is respectable compared to the US median, but average prices are more on the expensive side. I'd be keen to invest in this market (focused on single family homes) but I'm struggling making the math work in light of higher prices and monthly rental price points that result in lower cash on cash roi. (btw if my analysis is faulty please feel free to correct me!). 

so simple question: is it possible to generate cash flow from rental properties in Ann Arbor (and not necessarily targeting university students)? thanks in advance!