You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

Really appreciate the golden nuggets you've all shared.

Anyone else have experience with this?

Based on my experience of running properties, even if the build were to cost you as much as $600k but you could generate $125k/year, you'd be very happy with that investment. 

If you’d like to dive deeper into my experience and why I’m bullish on Detroit, I'm happy to share some resources if you want to DM me.

Here is my list of the most dangerous real estate related investments for the “non professional” investor lacking direct knowledge  and experience in these investments 1.

It is too nuanced and requires capital, experience & focus.  

I'd connect with some local investors either through the Airbnb app.. can message them as a guest and ask for a phone call to see their experiences and see if someone can send you their P/L or share experiences, and or connect with local facebook groups.

(been working and succeeding since 2008 or before, someone you have experience with, good returns, close to 5yr investment?)

I'm looking to connect and network with other investors, contractors etc who have experience in this market.