It's a lot quicker, and you can minimize the risk substantially.

@Shawn Callan your plan is high risk due to the amount of debt you're taking on and the negative cashflow.What happens if you get a bad tenant and it takes you months to evict them and they trash the place on the way out?

I can provide support of checking in on contractors, staging rental properties, walk potential leads to give you an idea of the property in person or what the area is like, meeting with agents, and drafting scope of work for projects. 

I think funding someone else who is experienced when starting would be a great way to reduce your risk.

Potentially even visa versa since putting a few short term rentals would immediately generate some income and then sell off the parcels either with or without an income producing rental already in place.

There are plenty of investment opportunities in the Detroit area as well which have the potential to offer immediate value, so I would weigh your options with care. 

.: One of the interesting things that occurred in the legal landscape was that in 1978, California's Supreme Court ruled that due on sale clauses in mortgage documents were void "restraints on alienation" and unenforceable unless a lender could show their security was at risk.

Our vision was ambitious, and we were optimistic about the potential returns.

Personally, I'm waiting for the lawsuit by a seller against his own broker for refusing to vet a potential buyer and then show to a qualified buyer.

Make sure to research lenders, get pre-approved, and calculate your potential ROI before bidding.