You get to choose - based on your access to capital and risk appetite.

Depends on your goals and appetite for debt. 

On the construction side of things the cost is high, most jurisdictions require fire suppression systems to be installed in all units.

.- Every investor has a spectrum of risk appetite = I agree you sticking to your own discipline and wait to play the game on your terms.

And putting down weed suppression cloth and mulch will help keep the area low maintenance.

We saw there was value in the property but did not have the appetite to finish the remodel.

Expensive, but due to University of Michigan, it's very steady.One thing you didn't mention Steven, is what is your appetite for risk? 

If your interested I do have national player that might have an appetite for your deal if you direct message me I will be happy to point you in their direction.I am Ichabod who is partial to Jayhawk Basketball so hopefully this is not dis-qualifying my entire post haha.

Detroit is a eat or be eaten city... you better develop an appetite or you will soon be running for the hills like so many before you.

My ideal house is a 1200-1300 square foot brick 3/2/2 in a decent area.(2) Sub $130K ARV (much higher and rents start to taper off relative to value)(3) Newer houses are superior to old ones (and will justify a higher price) as long as there is not a lot building going on nearby that will suppress home prices(4) The result when I'm done fixing the home is that it has to be fully renovated and updated (no deferred maintenance or cap ex for the next five years)(5) I assume 1 month vacancy per month.