That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

Do you have specific numbers to share with the forum, particularly with respect to your in-laws house?

Oklahoma has a thriving network you can tap into.Partner with Local Agents: A knowledgeable Oklahoma-based agent can help you find properties in desirable locations.Look for Value-Add Opportunities: Cosmetic rehabs can boost equity and cash flow while keeping your initial costs low.If you want insights on a specific area in Oklahoma or tips on connecting with local wholesalers and investors, let me know!

Speak with a CPA specific to real estate to get assistance.As others have mentioned, cost varies depending on location. 

You need a local/state specific lease.2.

I the understand the wiring for this specific purpose equipment can be considered with the tangible property. 

Also would you focus on a specific target market you are familiar with and know the comps like the back of your hand and have boots on the ground ?

Specifically, what research results told you these were two good cities to invest in?  

Just to name a few: Borrower's Experience FICO Loan Amount Loan Type being sought: Perm (30 yr ams), Bridge (12-36mo I/O), Rehab (12-36mo I/O), Ground Up (12-60mo I/O) Property Type (1-4 unit, 5+ MF, Warehouse/industrial, Hospitality etc)If you have a specific deal in mind, then you can have a lender (or broker) look at it and give you a better idea.

Last year January MN enacted the biggest # of changes all were added details and raised the bar of requirement for Landlords, including some specifically detailing how a listing must be detailed.