This affordability gives investors the chance to acquire valuable assets while taking advantage of the potential for appreciation as Detroit continues its revitalization.Another benefit of investing in Detroit real estate is the city's growing rental market.

The plan is to acquire a tier 3 license.

I think that does make sense to do as cash flow to help build and acquire more properties is my main goal right now 

•If you qualify, you could use FHA’s 3.5% down payment to acquire a duplex or co-living property, live in one unit, and rent out the rest.

I am not a big fan of selling assets once I have worked to acquire them. 

But I'm looking for the cheapest option to acquire for now and then work my way up to multifamily.

My goal is to start with rental arbitrage, build a solid property management team in the area, and then transition into acquiring properties for STR.Would love to hear from anyone who has experience in this market:- Is rental arbitrage feasible here?

Part of considering acquiring a property should include additional possibilities.

Looking for some advice here - I have a 15,000 sq. ft. class-B warehouse located in an industrial park of the Chicago suburbs, near O'Hare:- Acquired for $1m and recent prices suggest I could sell for $140 per sq. ft. ~$2.1m- Cash flows at $140k annuallyI've been self-managing and it has been honestly pretty easy (send invoices, schedule routine maintenance/inspections), but otherwise I have no real knowledge or experience in the industrial space (I mostly invest in STR's).

Financing for RenovationsSince the property needs a full gut job, consider:Hard Money or Bridge Loan: Short-term funding to acquire and renovate, then refinance with a long-term loan.Private Money Lenders: Individual investors willing to finance the deal for a fixed return.FHA 203(k) or Conventional Renovation Loans: If you qualify, these loans roll rehab costs into the mortgage.3.