If your looking for the least amount of risk and biggest bang for your buck I would look for a company that is a reputable turnkey provider thats actually in Detroit and offers things such as an efficient boots on the ground team, all sorts of established local relationships, solid in-house management, an operation that is highly skilled and well versed in section 8, a company that has proven relationships with both out of state and local lenders.

And how do you usually assess the level of risk in situations where the borrower might not have as much at stake?

We hired a contractor to renovate our basement, and they just "finished" self-leveling the concrete floor and framing.

I’ve been working on mastering ARV (after repair value), but I still feel like it's a skill I haven’t fully nailed yet.

I do well in this arena  but the vast majority dont have the skill set to navigate it. 

It provided the guidance, skills, and community I needed to transform my life in ways I couldn't have imagined.

Has anyone ever initiated or been close to ground level in a major redevelopment of a neighborhood?

@Lotus Eli, being a mentor can mean a lot of different things to people, specifically the actual level of involvement.What I find interesting is you mention mentee #1: making calls, driving for dollars...

Weigh your headache level against your income goals. 

In fact, we just closed a new buyer on a beautiful turn of the century duplex in Duluth allowing him to househack the upper level.