Well... I wrote a very long post and it got lost some how. smh Thank you all for your responses.
@Greg Scott Your opinion is valued no matter if it's a downer. LOL I am here to learn. I noticed the Detroit Land Banks are listed on some of the MLS homes. It worried me a little. Being so new I wasn't sure if that was good or bad. I have looked at the areas you listed but I felt they were too far from the city which didn't fit with my goal of being a part of rebuilding Detroit. Do you think it's beneficial to be close to the Herman Keiffer Complex development? I assumed homes in that area would increase in value over time.
@Bjorn Ahlblad THanks for the thumbs up. I will check out the #9th property
@Lamar Lee My goal is to use the BRRR method with duplexes. I want to do long term rentals on one side and Airbnb on the other. This is why I'd like to be in a "nicer" area near downtown. I've also considered the Riverfront condos for Airbnb. I've also looked at the Jefferson Chalmers area since it's so close to Royal Oak and right by the water.
@Yoann Dorat The MLS homes are not all turnkey. I want properties that I can BRRRR with by adding some value. You're the second vote for the suburbs. So, I am listening! lol What are the risks that I should worry about?
One last question to everyone - Do I need an LLC w/ articles of organization, etc, to BRRRR my first property? I watched a BP podcast that said there were some cons and it can be a hinderance to one's momentum. Instead I can get good insurance and a good attorney if needed. I have a prospective hard money lender who is insisting that I have one.
