Most non-FHA loans will require at least 15% down but you'll have to have amazing credit.

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

Salaries, compensation, rent, taxes, utilities, fees, MLS, etc.The flat fee model is a recipe for disaster."

Note the property tax will be -10% on the rent by itself.Month 0 to 24: $2450 * 0.5 - $1573 =-$348/monthMonth 24 to 60: $2450 * 0.5 - $1541 =-$316/monthNext issue is due to the low leverage starting at month 24, the ROI takes a beating.  

We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.

Charges them all for parking passes (on the lots I own), charges for pets, charges to empty the coin op laundry, charges for credit checks etc.  

If the purchase is done in cash, as you mentioned, they’d have more flexibility, but they’ll still want to carefully consider the tax and legal implications of the subsequent sales.I hope this helps, and good luck with your client’s deal!

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

Others want a higher reward so take on more risk, like low credit tenants.

Rates are hovering in the mid 7s depending on your credit score.