I have heard that Detroit has a lot of potential right now.Your acquaintance is spot on.

If you're thinking about renting out when you're not around, I'd advise using a short-term rental strategy, the numbers are strong and it's a lucrative market.The attractions there range from zip-lining, white-water rafting, and wineries, there's even more to discover, which is what's driving more traffic to the area and it has truly become a great destination spot. 

Assuming that you converted your property into a rental after you moved, you will still owe taxes on depreciation recapture, as explained by @Basit Siddiqi As always, you are spot on!

It's like the new cabin took the lead spot, and the cabin that used to be the lead has dropped a LOT and they are very similar in amenities.  

I built my portfolio from 2019-2021 and then moved back to California.There are a lot of great spots in Detroit but you do need to be careful.

I imagine once I buy a place with a small lot, designated spots are the way to go like you said.

You will eventually find that sweet spot.

As far as the returns go, they were spot on. yes they take a cut but they’re getting more revenue overall so they pay for themselves.  

I knew it was not a really great deal but for my first property my goal was to learn as much as i can and atleast break even. my question is now that i know that MLS deals are hard to find and the ones you find are taken on the spot by bigger fish, where do you source your deals?

Before that we knew we were at a good spot, but not where that spot was.Good from a comfort level, but doesn’t mean much once you hit your number.