They can also assist newbie tenants with build out.Always be advertising these units as they do have more frequent turnover than I realized.Collect larger deposits. 

As of now, most banks don't recognize the split model and only run numbers on the LTR units since they feel those units are guaranteed income. 

@Jessenia Hartage Detroit's a great market as US Census Bureau finally recognized that the city is growing!

If you do have money to invest in your wholesaling business, then you can pull lists from Prop Stream or List Source and skip trace them, use bandit signs, social media advertising, Google/Bing ads, Direct Mail, etc.

Then offer that rate to the current tenant with the PM’s lease to get out of any errors in the old lease.if they move out fix it up, take pix, advertise, and move on. 

Often, even if a property does not advertise owner terms, there is usually seller receptiveness for the conversation.

They don't advertise this to the public and  only with certain people and groups (and by referral only).

That would depend on a few factors:How confident you feel in managing the project (as @William Hutch mentioned).How confident you are in recognizing building issues/concerns, and pointing them out.How much time you have to oversee and research how things should be done.

Seeing 3rd quarter 2019 had zero sold, recognize this graph is on a small to very small sample size.This is like buying a $50k car that depreciates to $10k then due to an event (such as Covid) the car is now $20k and saying the car has not deprecated.  

If people are getting free electricity and water, they tend to be a little less frugal :) .Then check on insurance costs for a MFH and add that to your projections.Finally, talk to your contractors and see what requires permits, what their experience has been in getting them to pass inspections, the timeline and the cost.Factor all of these into the decision to move forward or leave as is - maybe advertise it as a 4/1 with a home office with outside access and get more rent that way.One last point - I hope that the addition you mentioned was done with permits and is reflected on the tax rolls because if not, you may open a can of worms you wish you had not.