What folks should be doing is developing the understanding enabling them to build their own tools.

My goal is to gain a solid understanding of the process, master deal analysis, and ultimately close my first deal.Right now, I’m focused on learning the basics — from finding motivated sellers to building a strong network of cash buyers.

If not, understand the risk of taking equity to generate more equity based off your ROI.

A good mentor will help you evaluate things and identify potential hurdles before they come into play.People fail because they think it's easy without understanding what the difficulties can be.

Brandon Turner's Rental Property Investing book is an excellent primer to understanding the happy path for purchasing a property - however in this market it really comes down to having bulletproof assumptions on rents/taxes/R&M/etc. as with rates as high as they are/inventory as low as it is, there is less cushion in your returns if you analyze properties with bad assumptions.

I totally understand the struggle, Venecia!

Property values have been appreciating rapidly in recent years, and the city’s population has started growing again—a trend we haven’t seen in decades.I’m also based in California and have been investing in Detroit for several years, so I understand the concerns of out-of-state investing.

Also look at the rental laws in the areas you are considering, just so you understand what you are getting into and whether you are OK with them or not.

While cash flow may be harder to achieve here, these markets often shine in their ability to withstand market downturns and provide solid appreciation over time.The key in markets like this is understanding your goals.

I would hesitate to say 1-2 years to rotate out but closer to 5 years, and ideally I'd try to get the downpayment higher to at least 10%.I understand your areas though-- they're expensive.