@Greta Andrews Dave Ramsey a nationally respected financial expert , best selling author, and financial advisor calls whole life( cash value) insurance a con job orchestrated on novice investors by “ enthusiastic ignoramuses” masquerading as financial advisors.Borrowing money from yourself and paying interest on your own money is a non common sense approach to investing. 

Profit-sharing in the 20-30% range is also common in situations where coaches play a key role in creating wealth through property investment.”

I have had some clients out of state self manage larger class B 4 units $800k range and it seems only way to cashflow right now is self managing larger deals. 

Hiring a Property ManagerManaging Yourself:Control: You have direct control over tenant selection, maintenance decisions, and overall management style.Cost Savings: You save on property management fees, which can range from 8-12% of monthly rental income.Challenges: Being across the country means responding to emergencies or maintenance issues can be tough.

When all these are factored in, the average cap rate on a single family home is in the low 3% range.

Rates are in the 7.5-8.5% range. 

I take my time finding good tenants that are working and can afford the rent, then I treat them with respect and don't raise their rent every year.

If the answers are "yes" and "no" to those questions, respectively I'd highly suggest you look into Detroit's down payment assistance program.

As an investor myself, I have seen areas like Cleveland and Dayton with COC ranging from 10-18%.

We manage over 65 properties in Indianapolis, ranging from LTR to MTR, and STR.