Quote from @Sean Barnebey: This is an interesting opportunity, and it sounds like you’re approaching it wisely by considering the numbers carefully.

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I think the safest approach would be offering the package at a certain price and excluding the alcohol.

Be professional, but also authentic and approachable.

Our negotiation approach focused on building rapport with the seller, allowing us to secure the property below market value.

With this approach you are able to cashflow as soon as the property is full.Best of luck.

My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

Don’t forget to plan for the future, maintain a healthy work-life balance, and celebrate small wins along the way—it’s all part of the journey!

Any tools, APIs, or approaches you’d recommend?