The median price is still just $90k and I wouldn't be surprised to see it double again pretty quickly.The other nice thing about Michigan is property taxes are capped at the rate of inflation with a max annual increase of 5% per year.The biggest drawback of Detroit is tenant quality IMO.

Chase cash flow so that you can get infinite returns and you will be poor.  

Unsure what we're supposed to discuss, but this would've been helpful earlier on.Overall this has been a poor experience given the cost.

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

No matter how well maintained, the quality of being brand new no longer exists once it has been lived in.

Having issues with getting quality tenants in the home.

Visiting the city frequently, I noticed that it is not as alive, homelessness and crime are rampant, car break-ins are high, and the overall vibe of the city is very dirty and poor in my opinion. 

You won't be managing from afar, so find a quality property manager before you find houses.

Key factors include the quality of the renovations, market conditions, timing, appraisals, and presentation.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!