If you learn how to use Hard Money loans properly and how to find good deals in need of rehab, there are plenty of areas of the country where you could buy 3-4 rent properties in solid middle class areas with good cashflow.

I have some crypto gains I’m really looking forward to dumping into a more stable asset class and hoping this can help me defer the taxes on the growth. 

My clients are mainly real estate developers, PE funds and individual investors doing syndications and my core skill is in real estate valuation / due diligence across real estate asset classes. 

All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.The bad reputation of “Detroit” comes from OOS investors wanting sub $40,000, D class properties in poor condition, because they pencil out to 2-3% deals on paper.

You may want to listen this as an investor:  https://www.biggerpockets.com/forums/52/topics/402958-investors---are-you-a-c-class-landlordBest of luck!

I would get more details on the numbers and go through it with an experienced investor. 23% expense ratio is laughable for any apartment building, let alone an old class c product.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

In today's tougher economic environment, I have recently experienced two cash calls.  

If it's just slapped in the backyard, i'd imagine it may not make a big difference but if you create an environment around it, it could be different.   

@Jordan Miller most Class A & B rental properties bought since 2021 really don't cashflow from day one.Class B will take 1-3 years to start showing cashflow.Class A, 3-5 years.Current investors keep making the mistake of looking back at deals from 5-10 years ago when prices & interest rates were both a lot lower, but NOT rental rates.