I think I have read and study enough to be dangerous.

We met at the courthouse last month for the "dangerous" building hearings.  

The OP follows in the same interest as the previous property owner since she has become the 'new' property owner.The rule draws distinction among certain fields of data which may be available to certain parties while excluded to other parties.   

To show that the LLC was a sham, that person will need to show that there was no real distinction between you and the LLC, by showing, for example, that the LLC did not have its own bank accounts; that you put money into and took money out of the LLC without properly accounting for it; that you ran personal expenses through the LLC; that you underfunded the LLC, etc.  

This is a DANGEROUS MISCONCEPTION.I recently hosted a panel of Hard Money Lenders for my local investment group.

Regardless of rent/value ratios, I think there is an additional danger with the high-priced markets.

@Frank Iglesias There are soo many different neighborhoods with huge variance in pricing, and the A and D areas couldn't be more distinct and further apart.

Detroit had a number of very unfriendly investor situations.. from the danger of your block going to seed... to Devils night and your house gets torched. to Wayne county basically being totally dysfunctional as a county entity.. just better places to invest.. is better in the suburbs of Detroit and out of Wayne county I have no doubt its better and probably sustainable.So in my mind If you live there and its your JOB to buy and run these assets then by all means give it a go..

The distinction is when you are doing repairs and a 3rd party will be occupying the house. 

I agree with Michael,Rehab is dangerous for a newbie.