Excellent terms already negotiated and in place, a long term lease option with a below market price and potential for increased value.

I have a decent salary, excellent credit score, no personal debt, no personal mortgage.

Every month you likely pay a mortgage payment that includes:Principle paydown - Liability Account (Balance Sheet)Interest - Expense Account (P&L)Taxes & Insurance Escrow  - Asset Account (Balance Sheet)Once a year, your Mortgage company will pay your Taxes owed and Insurance Premium - both Expense Accounts (P&L)  @Jake Baker do you have a good Excel or Google Sheets template for this?

@Brian Bradley Some excellent thoughts around asset protection.  

There are several skip tracing companies out there, find one without high volume minimums, flexible pricing options and excellent customer service.

Financial Projections, Business Plan, and Investor Pitch Deck: It's excellent that you have these completed.

I said it was a huge mistake, but everyone told me they were in an excellent location and the numbers would work. 

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

Yes, this totally makes sense, but I'd like an Excel modeler that has this available to play with.

For 5-9 units, you could get to the low 7's assuming the DSCR is excellent.