If you renovate for a flip and then decide to BRRRR you will likely get less than you expect because the finishes will be too nice for a rental (depending on the neighborhood, it could work where you are in that price point).

Everyone's learning style is different. 

@Shibashis Dutta Detroit has 183 Neighborhoods - some you want to invest in, some you don't.We've got them all on our website and have info on ranking them.What else are you looking for?

You *could* bill proportionately in more of a RUBS style with out meters.

Before you spend your money here, check out The Ultimate Guide to Grading Cleveland Neighborhoods for a lay of the land.

I'm not in that market but I would recommend finding off-market deals, targeting distressed properties, or focusing on smaller multifamily units in less competitive neighborhoods.

Renters see that the whole neighborhood is available for rent and they push to see who will give them the best deal (or which agent will cut them a deal). 

Vigilante style.[2]  This is an open dialog site.

I personally like multi-family properties as they have less capex (one roof to replace vs multiple) but that is just my style with investing.

Counted this as a 45k asset but in truth it could be slightly higher or lower, there is a lack of inventory in this market so I am hopeful it will go for more but I am budgeting 45k.Deal 4 Bought an REO for 12k, rehabbed and all in for 20k, property value is 60k, posable more if we sell as a turnkey to a CA investor.Deal 5 Condo in Chicago, bought NP note (owner died in 2007 and nobody has paid since) paid 22k for the note, property rents in that neighborhood are @ 1,100 a month and the property is worth 60-70k based on estimates from a BP realtor in this market.Deal 6 bought a vacant REO for 5k, paid 7k in back taxes and put 18k into rehab, rented for $875 staring June 1st and worth 60k based on neighborhood comps and feedback from our PM/Realtor.Deal 7  Bought a SFR in souther IL for 12.5k, needs 30k in rehab and BPO's came in at 65k and 70k, I counted this as a 20k value since we will need to put more into it.