However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

RBTR is his primary strategy in DFW and can probably share a few tips/recommendations with you. 

I visited detroit this summer and I was surprised on how nice downtown Detroit was.

So any extra pointers or tips , books, would be great guys I would love to connect and build relationships!

The property is located near two colleges, so I’m focusing on student tenants and planning for 12-month lease terms.Do you have any tips or advice for renting by the room?

As Michael mentioned you just need to respond to the IRS and state this is what you're doing.

Really looking for tips on what to do from investors who have been in this type of situation.

why is this a sticky?

Any tips on where to focus my time is greatly appreciated!

I agree, you need to confirm this with the city.