Your plan seems solid so far, good luck! 

You should consider creating a good entity either way, but especially if you are going to self manage.

Investing in the city is usually a good idea!

.- While doing due diligence for this property, I made sure it was in an area that was relatively good.

Raise fees on building permits, give tax credits on renovations.Suburban sprawl really hasn't been a good thing for the US.Of course, it's all about supply & demand.But, if you can figure out why more people want to live in Hazel Park (leading to teardowns & rebuilds) versus south Warren or Eastpointe (nothing happening) then you can make millions.

Good luck!

It's a good way to get started and learn the ropes without a lot of capital, but you need to make sure youre doing it correctly.

Would this be a good idea or even possible?

While living in a high-cost area can present challenges, it also opens doors to creative strategies, like investing out of state or leveraging partnerships.

Good luck!