Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Fundamentals change neighborhood to neighborhood (i.e. appreciation potential), inventory/absorption issues may exist, rogue city council members and/or registered community organizations can make neighborhoods less appealing with little oversight which impacts value and marketability.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Quote from @V.G Jason: I'd partner with a lawyer that can help put some contractual language on the downside of working with contractors and real estate agents.I'd also partner with a RE brokerage firm that clearly understands your goals. 

Within the next two weeks, we will engage construction firms for engineering services and project RFP's.

There is a story to every pocket of every neighborhood that locals will know, but you may not, if investing out of state or in a market you don't know.

Buy the worst house in a great neighborhood and fix up.  

The neighborhoods you look in will make all the difference in you analysis.

I was firmly denied and told, "we strictly do not allow short-term rentals, subletting, or anything similar".

Talk to some of the Realtors in the city and ask them to define where the neighborhoods are and which neighborhoods they think are best.