Things such as location, condition, aggressive rent rate, etc affect how much work may be required to properly manage a property and its tenants. 

It will take a huge amount of work to upgrade the property which has not been properly maintained, so we'll be doing a lot of infrastructure rehab including adding HVAC/AC, upgrading the wiring, and bringing the old floors back to life.

Also, most rentals are more about function than form.

The registration site still isn't working properly.

But it's missing a couple of integral features, such as maintenance requests/tracking, and also my bank (which I do not want to leave) for some reason has always hated connecting to Stessa and thus never works properly...

I would have to guess that there should be a way to setup the account for a PM or co-host.Even the co-host option locks the co-host out of certain functions, and we can't drag the listing into our software.

I am now looking to get the proper STR insurance on the unit.

I'm big on Detroit, personally (heavily) invested there, and work with a lot of clients that wish to invest there.Homes in Detroit proper can be had for $80k - $90k today and rent for $1,200 - $1,300/mo.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Structuring your financing properly allows for sustainable growth while mitigating risks.