@Brian King What about something like this for a fix/flip in Smoketown: https://www.realtor.com/realestateandhomes-detail/822-S-Hanc...

A good designer and architect are key for a successful project like this and keep in mind these aren't cheap.There's a lot more details to consider, feel free to DM me for more details.

If you feel confident in the tenants signing those long term leases, this is a slam dunk and you'll have a cash cow on your hands very quickly!

The two are almost entirely different markets in terms of price points, returns, tenant quality, and overall investing strategy.

Quote from @Nathan Gesner: There were a couple experienced investors on the forums that loved to tell everyone they could manage a short-term rental in just five minutes a week. 

We want to detail the responsibilities, capital contributions, profit and lost sharing percentages, decision-making process, have dispute resolution methods, and exist strategies.

Rates:$2,000 Daily$10,000 Weekly$30,000 Monthly$25,000 Long Term Monthly$3,000 Holiday Daily$15,000 Holiday WeeklyI am looking for insight for anyone who has experience in this market to see how realistic that is... 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

I have rented out this home short term before and have been successful but I don't have any experience with 12 month leases.  

We don't bait and switch, we work deals based on actual details of the client's specific deal.