The short answer is that the longer you live in it the more gain will disappear. 

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

Lending can allow you to be more diversified and since it is short term, avoid getting caught in large downturns in the marketplace.

If I knew that I wouldn't be here, I'd day-trade on that information (stock ticker $MBB, for example, it's an ETF, so it functions as a stock, you can short it, or buy puts, etc) and be a billionaire well prior to Q1 2025!

My wife and I have self managed short, mid, and long term rentals.

It's a huge win, and I admit, at the top end in terms of outcomes.Most deals are leaving $5,000 - $15,000 post-refinance but still nicely cash flowing.In short, yes, there's a lot of opportunity in Detroit but you really need to understand the market or work with folks that do.I'd be happy to chat with you or anyone else looking at the market there.

We're thinking of starting out with short term rentals near or on the beach.

We all have short memories :)

@Jason Stofer if you don't have a support structure to tap into... the unhappy answer is that there is no short cut. 

Determine investment strategies like buy-and-hold, short-term rentals, BRRRR, or partnerships, analyze numbers, consider creative financing options, build a strong team, and start small and pivot as needed.Good luck!