Just looking to get a head start I guess you could say.

Out-of-pocket capital improvements and repairs anticipated during the first year12. 

I talked to numerous California investors in real life and phone/Zoom calls who have lost money in far away OOS markets, mostly Midwest markets (e.g. repairs, capital expenses, bad tenants, properties vandalized while under renovation, evicted tenant stole all the appliances, property managers with high fees or overcharging for repairs).

You can buy a luxury home in Florida for example for $1M to $1.5M bigger than a $2.5M home in CA.They make Hurricane Proof homes now so its not that bad if you plan a ahead.  

Other than that, the city is largely residential with many jobs focused around providing for those residential needs such as the service industry sector, home repair, construction, etc.

(@Jonathan Greene DM us if you'd like to chat about them)Regarding turnkey in Metro Detroit, haven't seen anyone do it the right way:( We've picked up dozens of their clients that fire them due to poor tenant performance and nonstop repairs on their "turnkey" properties. 

You seem to be aware of this risk in referencing potential bottlenecks which puts you ahead of the curve. 

Initially after management fees, repairs and PMI i was losing about $250 per month.

Built in the last 50 years but before 1990.Currently rented for <$7000 gross but could likely be raised to >$8000.Expenses are as follows:Taxes - $13,000/Yr or ~$1083/MoInsurance - $3100/Yr or ~$260/MoMaintenance, Repairs, Vacancy, Trash Removal - ~$1000/Mo.Now, seller wants 850k & 10% down, interest TBD.

Finding an agent, finding contractors, overseeing repairs, finding a property manager, finding tenants, etc.