However The barrier to entry in the REI teaching business is very low and a lot of bad players join the game.What you describe led me to come up with Ned's Rule of Gurus.The quality of an REI course is inversely proportional to the price

I have gotten pretty good with multi-families in low to low-middle class neighborhoods.  

I don't have experience with the Detroit Land Bank, but generally land banks are pretty reliable, but...they are low money buys (from $1 to $1,000) that require you to show proof of funds for the rehab.

The rehab estimate seems very low and the ARV seems really high in my opinion, just based on a tiny bit of research looking at what this property was listed for recently (it hasn’t sold), and what the surrounding similar properties are worth (~$250k).

Another thing I am doing right now is looking for a mentor to help with my strategy, but in the meantime I thought I'd make a post and hear what BP investors would do in my shoes.For my situation, I am 26 and I have a very low income (55-65k annual) for my household and a growing family of 5 to support.

It was truly the wild west.For the same reason I said several years ago the price of houses weren't going to crash due to supply and demand and the supply being so low, I believe the same thing is going to happen out here.There was an oversupply of building going on 2 and 3 years ago out here especially on the bigger cabins.

Pros: Diverse job market, low unemployment, great resilience during recessions, nice appreciation, 1% rule can be hit if you look hard enough, great economy, good schools, Midwest nice.Cons: Extreme weather at times (hot/humid summers, tornadoes/hail, brutal cold in Jan/Feb), high insurance premiums, property taxes also really high.

It sounds like you did a lipstick flip with very low-end furniture just from your description and to succeed at MTR, you need make convenience a priority.

If you're scared to take the leap to get your first property, I'd advise making your first deal as low risk as possible. 

Ultimately, it depends on your goals (low rates, fast turnaround, etc.).