Couple other things to consider, property / school taxes are high, and tenants have lots of rights.

@Nick HulmeMaking improvements to your primary to make it high quality enough to rent above market rents, rent it.

I can say in Detroit the wholesaler your talking to has most likely found that deal from 2-3 other wholesalers, they literally have to payout 2 - 3 other parties to get the deal and this is what the fees are high and the deal makes no sense.

Don't put a high list price based on what you want, needs to be based on solds

It looks a lot like a customized version of High Level, kind of like REI Reply.   

Wade returns for non performing notes has tightened and is now in high teens low 20's.

High risk areas.  3.

I would highly recommend you create an LP agreement.

I agree with the other posters...25% down seems a bit high.

If you are new to the business the most common issue is you're either locking up deals too high or you aren't finding attractive deals.