Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

And, just maybe you’ve purchased at a point where Detroit has hit its low, bottomed out, and is set to reverse trend and grow.  

This is pretty clean.Scenario 2:  Your partner has owned the house for 15 years and has been taking accelerated depreciation, so the book value of the house is very low. 

If they are low balls then usually you are asking someone to work for free as the fix and flip landscape is competitive for a low pay out.

Because of that low barrier to entry, plenty of investors from all over are looking at this city.

It could be 50% high, 50% low or right on the money but no matter which of those three it is makes no difference.

Quote from @Michael Daniel: Purchase price 70k currently pulling 900 rent ARV 110 - 140k, rehab about 25k @Michael Daniel That rent sounds too low for that ARV.

Underpriced, underperforming, value add, 20 units, cash flow potential, low risk How did you find this deal and how did you negotiate it?

A lot of what you'll see here is older homes in desirable areas and that scarcity keeps price growth high while keeping sales growth low.