My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

You can potentially purchase multiple properties, which is a huge plus for spreading out risk.

I'm trying to Figure out how to make this potential deal work.Seller wants to sell but not right away because they still use the house for some income. 

This could potentially meet your financial needs by itself as well as provide start up money to do flips or purchase buy and holds

Maybe their guess at what the market value is is actually what the market value could potentially be if someone (the next owner) does the hard work of getting the rents up to that value.

What drew me to Detroit initially was the potential for strong cash flow, but I’ve also seen appreciation in several of my properties as the city continues to improve.

The properties are well located in Denver with value add potential and all rents are currently well below market. 

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

Having grown up in Florida, I was paranoid about the wind and a potential fire and sure enough at 10AM one broke out in the vacant lot adjacent to our property. 

The market does offer lower priced investment opportunities and higher cashflow returns, with ongoing revitalization projects like the DORA boosting appreciation potential.