I typically host single family homes, but have been asked to potentially host an apartment complex of 22 units.

We have our starter home currently rented out and can potentially move back. 

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Plus it drives down wages so existing population can’t move up in housing.Add in Airbnb and you drive up housing.Add in tariffs for Canadian lumber 3 years ago and potential future China and Mexico tariffs.  

Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

Detroit can be a fantastic market with strong cash flow and good appreciation potential, but it’s definitely a unique place with its own quirks.Starting with cash is a smart move, especially in Detroit, where local knowledge and relationships can make a huge difference.

Lend's the highest potential for such folly. 

While it's positive after expenses and has potential for improvement in year two, it’s been a bigger hassle than anticipated and taking attention from other priorities and areas of our life with not enough return. 

Obviously some potential issues with the lender, but how often do these deals really happen?