To me, that is extremely critical.

We've been extremely lucky with our first tenant- she is wonderful.

We got it under contract but then canceled the contract after some concerns with the foundation.

Once you get through this process there hasn't been any concerns after that.

And CA is extremely tenant friendly so it's not a great place for a rental. 

So, landlords of exempt units don't even have to be concerned at all.   

Property values have been appreciating rapidly in recent years, and the city’s population has started growing again—a trend we haven’t seen in decades.I’m also based in California and have been investing in Detroit for several years, so I understand the concerns of out-of-state investing.

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

It really comes down to your goals and time commitments.Airbnb margins have been getting tighter and it is extremely time consuming.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!