Hi all,I'm a busy professional trying to buy my first rental property in the Royal Oak, Clawson, Madison Heights, Berkley and Ferndale areas - SFR or multifamily residential or commercial.It is really hard to find anything that cash flows positive in these areas (I use 5% vacancy, 10% property management, $50/month repairs and $200 a month cap ex.). 

Royal Oak and Livonia are a good call but I can’t comment on current market pricing.

I buy the low end so if I screw up royally, I won't get hurt too bad.

You are right DMV metro is crazy in terms of housing prices and only appreciation no cash flow so looking for markets within 1-2 hours driving distance. have been to Shenandoah skyline multiple times via Front royal but never thought from investing standpoint.

I have sold homes before the rehab was completed and it was a royal pain in the butt.

I've never bought anything there, but Royal Oak is probably considered one of thot most "happening" areas in metro Detroit.

Royal oak/Detroit area is definitely less expensive than socal so I would be able to make a down payment.I can trust the tenant because it will be an immediate family.

Royal square and other developers are trying to revitalize the city.  

Talk to Scott Smith at Royal Legal [email protected]ơmHe setup my entity.Good luck.

You have to kiss a lot of frogs before you find a princess.