The latest ordinance I find still states rent control only applies to 4 units and above. 

You can spend $150-200k and easily hit 1%.

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Do I want something a bit more active or passive (how much time do I want to spend on this property or property project) That should start help you narrowing things down a little and once you're clear on all of that you'll have different criteria to overlay on when looking at deals in Perth/Melb/USA to fitCheers

@Max Dauer just remember that even tho you may only spend a few hours a week actually working on them or dealing with guests, you are always on call.

Finding a decent contractor might be one you want to spend more time on in the start since it could take longer to find.

For example when someone wants to have financial freedom and spend more time with family, but then sets a goal by creating a heavy active income stream that involves their personal involvement daily.

if you allow the use of it I would mention something in your contract that the tenant is responsible to manage a controlled safe fire or something along those lines.  

And while crime isn't out of control in either suburb, it is higher than the national average and the schools are medicore at best.

So as a result of my “asset protection” procedures, the end result was that instead of being sued personally and having to spend the time, money and emotional stress of both defending my self AND suing the insurance companies and condo association, the plaintiffs accepted an ASSIGNMENT of proceeds and signed a form releasing me and my LLC from liability in exchange for the right to go after the insurance companies themselves.